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To: Terry D who wrote (66278)	2/13/2003 9:53:35 AM
From: reaper	Read Replies (2) \| Respond to of 209892

i've got an idea for these knuckleheads; instead of using 'earnings' or 'revenue' lets try FREE CASH FLOW. last time i checked, the point of the existence of a corporation is to generate free cash for its owners, and the value of a stock is the discounted present value of future cash flows. if the Bear Stearns morons chose to do the work (and i am quite certain that they have not) they would find in this analysis that the broader market (i.e. the big-cap S&P 500 names) is still laughably over-valued, by a factor of as much as 2x. that the Bear Stearns people are such morons is a principal reason why i am short their own laughably overvalued stock <g> Cheers