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Gold/Mining/Energy : Crystallex (KRY) -- Ignore unavailable to you. Want to Upgrade?

To: viper who wrote (5847)	2/28/1998 9:19:00 PM
From: Valuepro	Respond to of 10836

Wiper, You said, "Value as it relates to valuation, my friend is what I am referring to. The valuation on Bre-x the day before Truth day was an inflated,promoted, speculative, value in the hundreds of millions of dollars, was it the real value? The real valuation was zero. Is the real value of KRY $500 million dollars today? No, it is a value based on promotion and speculation. What is the real value? I am interested since you call yourself an 'expert'. P.S. Take the weekend to think about it." For your information, I don't need the weekend to think about it. I've been dealing with the subject of value academically and professionally for 25 years, and I don't need to engage in discourse with one such as you who is here only to disrupt and to antagonize. I will, however, for the sake of my friends here, reply one last time and then ignore you forever, and, just for you, I'll try to keep it simple. One must first define the type of value appropriate to the discussion. In this case we are talking about the "market value" of one speculative stock issue as opposed to replacement cost or substitution cost(both forms of value), insurance value, salvage value, etc. Market value is what is perceived in markets, at any given time, based on knowledge then available combined with future expectations. It can only exist at a given moment and can change with further knowledge which may then result in revised expectations. Therefore, the "real" market value of Bre-X stock on the day before the collapse, was the then "real" market value, at any given time of day, and the "real" market value of the stock the day of the collapse was the "real" market value, at any given time of day, but only AT THAT TIME. In a larger sense, no such thing as "real" value exists. The only thing close to "real" value is what is received/given at the moment of an exchange and it exists only at that moment between the buyer and the seller and not necessarily to other participants in that market. Further, it takes a willing buyer and a willing seller each of whom is acting in their own best interest and hoping to capitalize on the incomplete knowledge or erroneous expectations of the other. Now, please, go away. ValuePro