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<p>[QUOTE=&quot;Cloudsweeper99, post: 317907, member: 3011&quot;]My original post was in response to a statement by troyheights that collectibles do not have an intrinsic value.&nbsp; I stand by my statement that they do.&nbsp; But as you have pointed out, financial theory is not much help in putting a value on this asset class.&nbsp; Just because something is difficult to value doesn&#039;t mean it doesn&#039;t have value.</p><p><br /></p><p>Edit: Off topic, I was doing research a few years ago on discounted cash flow models as they apply to venture capital investments, and almost accidently &quot;solved&quot; the problems involved in forecasting cash flows and choosing a discount rate under conditions of uncertainty.&nbsp; The new model, which doesn&#039;t require either, provides results comparable to the traditional model without the guesswork, and uncovers application errors from improper input variables in the traditional model.&nbsp; I ran the idea past two other investment professionals who agreed with the findings.&nbsp; I&#039;m not sure if anyone else has made the same discovery, but I&#039;ve never seen it in print.&nbsp; Anyway, not really relevant but it was nice to personally plug this hole in accepted financial theory so I thought I&#039;d mention it.[/QUOTE]</p><p><br /></p>

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