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To: SKIP PAUL who wrote (111876)	1/30/2002 8:08:23 AM
From: Wyätt Gwyön	Respond to of 152472

You are mixing up discount rate with expected returns no, i am not. i am doing it exactly the way Buffet does it. i provided a quote from Buffett here a few weeks ago that says exactly the same thing.

To: SKIP PAUL who wrote (111876)	1/30/2002 8:15:02 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 152472

as i said before, in case you forgot, here's what BUFFETT had to say at the most recent Berkshire Hathaway shareholders meeting: "If you've got a business that's delivering you no cash today and it's selling for $500 billion, in order to give you 15% on your money, it'd have to be giving you $75 billion this year. But if it doesn't give you $75 billion this year, it has to give you $86.25 billion next year. And if it doesn't do it next year, it'd have to give you almost $100 billion in the third year. Those numbers are staggering. The implications involved in certain market valuations really belong in Gullivers Travels or something." #reply-16876923