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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (612)	8/10/1998 8:54:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 1722

Axel, One more thought on giving the exact values. I am not so sure that it is really possible to give an exact fair value. In acquisitions, several opinions are reviewed. I know I never have an exact number to work with. I have a range that I believe is fair based on the most likely outcomes. I think current prices for the DOW and S&P500 are outside that range. Quite possibly by very substantial amounts. Under the most favorable outcomes in my mind, the plus side is a small rate of return higher than bonds (lower than average though) over the long haul. Under more likely scenarios, there are some very poor results and a few complete disasters for the next 5 years or decade. That is how I come to my view of overvalued. Wayne Value Investor Workshop members.aol.com