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by mlyle
1321 days ago
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Who knows what's best to buy right now in this environment. I'm just making the point that, if stock A trades for $10, and one is concerned because they believe the "true" net present value of its share of the business of $5... that the situation isn't improved by buying asset B that trades for $10 but has a zero underlying net present value. (Asset B may very well do better, because underlying values are not the only reason we buy assets...) |
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