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To: Douglas V. Fant who wrote (81028)	12/8/2000 3:43:59 AM
From: PhantomGremlin	Read Replies (1) \| Respond to of 95453

(OT) Douglas, "book value" is tricky. At least to me. For example, Yahoo lists WCOM as selling at 0.77 of book value. However, drilling down a few screens shows WCOM selling at 5.35 times "tangible book". I haven't read SEC filings on WCOM. But I suspect the difference between these to be a consequence of goodwill that WCOM must write off from mergers and/or acquisitions. So in this case, which is the more realistic "book value"? Similar situation probably applies to many oil stocks. Plus many E&Ps had to take writedowns during low oil prices. But I don't think they are allowed to "write up" those assets now. Seems difficult to get an accurate assessment of what a company is actually worth.