[PEN-L:221] Re: What does the stock market mean

[Doug Henwood <dhenwood@xxxxxxxxx>]

michael perelman wrote:

>What does it mean when the stock market tells us that Microsoft is worth
>more than any other company on the market?

Something related to the fact that the market tells us that Amazon.com is
worth more than Borders and B&N combined, and that AOL is worth more than
ABC, CBS, and NBC combined. As they say on Wall Street, the market isn't
only discounting the future, it's discounting the hereafter as well.

Doug