E-Finance: A new way to create value and survive

The fall of old Gurus

With the exploding stock prices of Internet companies in mind, top CFOs are asking themselves what lessons should be learned from the new economy. Valuation obviously has nothing to do with price-earnings ratios, price-revenue ratios, or short-term profit expectations anymore. Calculations made with the help of proven discounted cash flow methods seem to teach us that the stock prices of most Internet companies will never create sufficient value for the investors. But is this line of reasoni...