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To: Michael Bakunin who wrote (97326)1/24/2000 1:44:00 PM
From: Tony Viola  Respond to of 186894
 
M, Perhaps management feels bad about subjecting long-term investors to the vagaries of praying for a high
terminal value when they finally close their position.

AND

When does a buy-and-hold investor in a non-dividend-paying share get compensated? When he sells. Thus,
terminal value. -mb

Oh, I see what you mean, but what do companies have to do with the high price of stocks?

TV


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