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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Tulvio Durand who wrote (1402)	4/26/1999 2:45:00 PM
From: Black-Scholes	Read Replies (2) \| Respond to of 6531

Last time I checked, all marketable securities still used cash as the currency of transaction. The purchasing power of an internet stock - once sold for $100/sh. for example - is no greater than the purchasing power of a steel stock - once sold for $100/sh. ALL securities, regardless of the industry in which the company operates (steel, airlines, internet, chips (potato or silicon)), are ultimately valued the same way - the present value of all future cash flows discounted by the appropriate rate commensurate with the project's risk. SO -- growth rates, no matter in what industry, are ultimately valued the same way.