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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Allan Harris who wrote (13157)	4/13/2000 2:29:00 PM
From: C_Johnson	Read Replies (2) \| Respond to of 15132

Hello A, To deal with the issue so eloquently described in the linked post, you must make the distinction between eating pizzas and trading pizzas. If you intend to eat the pizza, then the value is known. Do not worry, consume and enjoy. The equation is simple: price paid = level of hunger, timeliness of delivery, and taste. For pizza, it is typically in that order. However, if you intend to trade the pizza, then the sky's the limit. The value is in what your neighbor will pay to have your pizza. It helps if he is hungry, BUT the price paid is even more impressive if transacted during a mania. In other words, the pizza trade is good when supported by the perception that there will be an endless stream of positive news. For example: Does pizza consumption support opto-tele workers who are installing bandwidth for the internet? Or, if bio-engineered opto-tele workers (or their cats) have a genetic pre-disposition toward pizza, then the inherent value of the pizza moves up more. This can also generate a derivative play. But beware. Pizza's do not have earnings, thus when sentiment turns against Pizza trading, it's a long way down (especially if the pizza is very old and stale). Old pizza can theoretically have a negative trading value. Carl