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Pastimes : Mommy, (S)He Hit Me Back First! -- Ignore unavailable to you. Want to Upgrade?

To: Baldur Fjvlnisson who wrote (83)	6/10/2002 7:43:46 AM
From: Baldur Fjvlnisson	Respond to of 344

It is actually possible that the companies underlying the U.S. stock market are collectively solvent. Just about. Here's why: <<<The Wilshire 5000 Total Market Index Fundamental Characteristics Month Ending 5/31/2002 Total Market Value ($) 12.2 trillion Mean Market Value ($) 2,076 million Median Market Value ($) 141.2 million Weighted Average Market Value ($) 77,697 million Largest Company's Market Value ($) 309.4 billion Smallest Company's Market Value ($) under 1 million Median Share Price $10.38 P/E Ratio 31.6 Price/Book 5.41 Current Yield 1.40%<<< wilshire.com So; we have a book value of the entire market at $2.2 trillion or so. Deduct from assets a trillion of goodwill, intangibles and accounting fluff designed to deceive and defraud investors and other stuff that banks are unlikely to take as payment. Add to debt hundreds of billions hidden off balance sheets. Discount for a solid tradition of fraudulent and misleading accounting and reporting on all fronts; be it from corporations, government and Wall St. In short; discount for a fraud driven mess "regulated" by mob owned garbage. Hence the U.S. market may have a combined book value of 500 billion to a trillion dollars and is therefore currently trading at 10-20 times book. This is good news. The bad news is that scores of companies are totally bankrupt.