Apple Inc (AAPL)

[Tex]

re just yet

They won't go to zero as long as there's adequate uncertainty about the futures of these companies, in which case the possibility they are undervalued will attract speculators (well, and maybe people closing short positions!).

The fact that people thought things weren't as bad as they sounded at Enron and bought as shares plummted didn't mean that there was still value on the books. It just meant there was still uncertainty around which to speculate.

I haven't heard a story about these companies' business that would cause me to want to investigate the possibility Buffett is wrong when he says the value is gone, and the fact that he bailed on them years ago from dissatisfaction with management -- and this is an owner who likes to own forever -- suggests that "zero" is a plausible real value even now.

The only thing left is for groundless optimism to abate.

Am I missing something?

Will the government inject so much money in that there's net value, and leave it in the hands of shareholders who voted in the management who oversaw the mess being created? (I'm not saying insanity is impossible, just that I doubt it while funds are tight and everybody is watching during an election season.)

Take care,
--Tex.