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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (30559)	6/30/2005 11:54:39 AM
From: tyc:>	Read Replies (1) \| Respond to of 314057

Thanks for you reply K; >>future payout in commons mostly depends upon perceived growth I think this is where we disagree.... and agree! The value of an investment, whether it be common or trust, is the present value of its future payments to you. Market prices are (or should be) the current assessment of that value. That's why I cannot see why a trust's pay-out of cash-flows, should command a higher market price than the profitable re-investment of those cash flows by the company on behalf of its owners, the shareholders.