Ray -- when you say that private companies sell for far less than public ones, how are you making that comparison? For example, are you comparing companies with roughly the same revenues and profit margin? Doing the same kind of business? With the same prospects for survival and/or growth? ... Or if you're not, how are you making the comparison?


Also, are the guys that sell private companies for far less than public companies sell for idiots because they would make much much more by taking the company public?