Greenspan

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Mon Mar 20 11:30:58 PST 2000


From enrique at anise.ee.cornell.edu Mon Mar 20 11:24:02 2000

Isn't there a bit of a difference between speculating with

shares at, say, ten times earnings and 5% yield, and doing

it at 400 times earnings and negative cash flow?

Only if you think that that's important in making your speculation decisions. It's okay: Warren Buffett says he doesn't understand it either.

/jordan



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