Nicholas Ruiz III
editor at intertheory.org
Sat Apr 4 02:20:30 EST 2009
welcome and thank you to all and our guests...
As the Dow Jones Industrial Average languidly sells lower after touching 8000 yesterday, and after having rallied immensely from the recent lows of late 2008 and early 2009...I wonder, what is a stock market really 'worth'? Five times earnings? Ten times earnings? One hundred times company earnings?
It's a bit like asking: What is Picasso's "Guernica" worth? Or Hirst's "For the Love of God"? Remarkably, valuation is a creative enterprise, no? Another negative US employment report this morning, over 600,000 jobs lost...highlighting another of our 'creations'...What is the extent of our entanglement with such 'creativity'?
Nicholas Ruiz III, Ph.D Editor, Kritikos http://intertheory.org
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