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To: alburk who wrote (1531)7/18/1998 4:07:00 PM
From: Katherine Derbyshire  Read Replies (1) | Respond to of 4467
 
>> Does this mean the value of the sum of the parts
compared to the stock value? <<

Close. The NAV is actually the value of the publicly traded parts. When the stock trades at the NAV or less, you actually get the private holdings for free (or better). When it trades at a premium to NAV, that often seems to mean that the market is anticipating a public offering, and so the stock price reflects at least part of that offering's value.

Katherine