Zeev's Turnips Patch-No Politics (ZEEV)

[lee kramer]

Hi Michael: No, 5000 is nowhere near fair in terms of "valuation." But I don't really know what valuation means. Many years ago I think I did, but no more. I see stocks that represent Real Value decline by 50-70% in price; that's what happens to value in a mark-down or bear phase. To me, a stock is worth only what someone is willing to pay for it...and the price may, and often is, cuckoo. Also, a handful of traded shares often sets the price for a ton of other shares. This thing we do, it's called GAMBLING. There are many ways we gamble; some wild, some fairly sharp. [I suspect this notion will ruffle a few feathers.]