[opendtv] Re: Auction 73/76
- From: "Bob Miller" <robmxa@xxxxxxxxx>
- To: opendtv@xxxxxxxxxxxxx
- Date: Mon, 11 Feb 2008 12:59:55 -0500
*From Wikipedia...
"Present value* is the value on a given date of a future payment or series
of future payments, discounted to reflect the time value of
money<http://en.wikipedia.org/wiki/Time_value_of_money>and other
factors such as investment
risk <http://en.wikipedia.org/wiki/Investment_risk>. Present value
calculations are widely used in business and economics to provide a means to
compare cash flows at different times on a meaningful "like to like" basis."
Without the word future in this definition you have no present value.
The "market" in the form of the current Auction 73 and the private
transaction in which a TV station was sold in Tyler TX have put "present
values" on both the single station in Tyler, $25 million, and the combo or
Channels 53 and 58 in Midland TX at $450,000.
All I am saying is that I disagree with the "market". The only way to really
make money in any market is to disagree with the prevailing wisdom, the
"market" price either up or down and be right. Soros did it by betting
against the British Pound and he was right. It seemed pretty obvious to many
before and especially after he made his billions but he was the one who put
his money on the line.
Same in Auction 44, someone bet that 54 and 59 were worth more than the
$38,000 they bid and won. The market says they are worth around $450,000
today and you suggest that is too high while I think it is too low. Time
will tell. Within a few years you will not be able to buy that license for
$50 million IMO. That is license sans all other assets the buyer may have
invested in it. Again IMO.
Bob Miller
Bob Miller
On Feb 11, 2008 9:57 AM, John Golitsis <jgolitsis@xxxxxxxxxxxxxxx> wrote:
> As is often the case for you, that just doesn't make the least bit of
> sense.
>
> On 10-Feb-08, at 11:26 PM, Bob Miller wrote:
>
> > If there is no future there is absolutely NO present value. Zero!
>
>
>
>
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