1.   Both offers valued the stocks at prices higher than their recent closing price before the announcement of the deals.

2.   All the usual methods of valuing a stock, such as price-earnings ratios, become meaningless.

3.   Brown Inc. will value the stock at whatever its market value is.

4.   Investors value stocks less in times of rising interest rates, because corporate earnings would have to improve substantially to compete with the return offered by bonds.

5.   Industry analysts have said the biggest potential risk of the mutual holding companies is how investors value the new stock.

6.   It made BankBoston special and the market valued its stock at a premium to those of other big banks.

7.   Options dilute the stake of existing shareholders, but investors can take the dilution into account when valuing stocks because companies publish the number of options they have outstanding.

8.   Shareholders of Celera, which is losing money, value the stock on future potential and may be willing to absorb more losses.

9.   So, to value Unimar stock, investors have to figure out how much they will be paid in dividends over the next four years.

10.   The basic premise of the book is that investors historically have valued stocks too low because they were afraid of them.