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From: smithsco@utflis.UUCP
Newsgroups: can.politics
Subject: Re: market crash
Message-ID: <1034@utflis.UUCP>
Date: Sat, 7-Nov-87 19:13:25 EST
Article-I.D.: utflis.1034
Posted: Sat Nov  7 19:13:25 1987
Date-Received: Mon, 9-Nov-87 02:35:32 EST
References: <11436@orchid.waterloo.edu>
Reply-To: smithsco@flis.toronto.edu.UUCP (Scott Alan Smith)
Followup-To: can.politics
Distribution: can
Organization: FLIS, University of Toronto
Lines: 22


>dave@lsuc.UUCP (Dave Sherman) writes:
>>rbutterworth@orchid.waterloo.edu (Ray Butterworth) writes:

>>Most share holders owned .000001% of some company before the "crash"
>>and they still owned .000001% of that company after.
>>The real value of that company, and hence those shares,
>>hasn't changed in the least.

>The value of the company is, by definition, what the market sets.

I thought that the value of the company - as it appears on its financial
statements and therefore to its bankers - was the book value which seldom
has any correlation to its market value.


Scott Smith
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