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by franbulax
3874 days ago
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It is worth what someone is willing to pay for it. The correct question is: under what conditions is it worth it? Many valuations seem to rely on investor N+1 being even more gullible than investor N. You can't defy gravity though; eventually someone is going to want to get a dividend. It must be more profitable to own shares in a firm than to not once the chain of fools has run out. |
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