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To: Chuzzlewit who wrote (88246)	1/8/1999 4:12:00 PM
From: arthur pritchard	Read Replies (1) \| Respond to of 176388

<these companies are illusions> The bigger fool theory is also very prevelent (sp) with single family housing. My thought is that these valuations are the equivalent of an attempt to make an economic/political statement. Steve Jobs is good at these things. Elitist positions in housing---where multimillion dollar condos with a view of the golden gate bridge. This botique sort of mentality---is sufficiently present with the inuts, to keep this thing going---to some extent. The elite don't eat at the Boston chicken. But alot of bored business school types, are dreaming up new valuation concepts. Of course, what really matters is cash flow. But the elite have a funny way of dealing with cash flow problems. For example, don't you think the Case brothers have options you and I don't? (aol/hambrecht)