matches the underlying value of its assets.
"Nortel Networks' stellar performance has overshadowed the underlying value of BCE's other assets".
But if the currency is plunging, the underlying value of pension pots will decline.
Just as styles and tastes change, so do the underlying value of stones and metals.
But if the bond market is wrong and inflation stays low, real rates would still climb, threatening the underlying value of TIPS.
In a letter mailed to shareholders, the company said Mr. Zucker's offer "does not reflect the underlying value of Hudson's Bay business".
Closed-end funds have a fixed number of shares and often sell at either a discount or premium to the underlying value of their assets.
In some cases, the amount of outstanding insurance via CDSs is far greater than the underlying value of the bonds.
If Google consents to a cut of, say, advertising revenue derived from a set of contents, the partner can't really ascertain whether the cut truly reflects the underlying value of the asset jointly created – or not.
"BHP Billiton's offers, while improved, still fail to recognize the underlying value of Rio Tinto's quality assets and prospects," Paul D. Skinner, Rio Tinto's chairman, said in a statement.
But word of mouth "allows you to get some information about the underlying value without actually buying the movie ticket or buying the book or, what is more costly, reading the book," Professor Godes says.
