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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: RGM who wrote (3595)	10/25/2002 9:51:44 AM
From: Howard Salwen	Read Replies (1) \| Respond to of 3770

Hi Rob: Hey, you must be an old guy like me. I bought my first stock, Alcoa, in 1958. In those days, good stocks were priced in the range from $20 to $70 per share. The same is true today. The difference is that a dollar is worth much much less. So, basically, stocks are now priced at much lower rates when compared to working capital, cost of living,and etc. I am having trouble getting my arms around this question. But, it seems to me that good old norms for valuation can not be compared to current valuations because the value of the dollar has changed so much. People told me that a new era had arrived in 2000. I knew that that was bologna. But, maybe the repositioning of the stock prices relative to all the other company parameters has had a marginal impact. What do you (or anybody) think?