> Like yourself, I too thought that the untraded shares didnt matter and
> didnt affect the valuation. However, I've changed my thinking to agree
> with Mr Big. The only thing is, since we don't know how many class B
> shares exist, I can't figure out how much dilution there could be.

> After comparing Berkshire to K-Swiss, I realised a couple of things.
> - Both share classes are tradeable, it's just that monst companies
> dont.
> - If both are tradeable, there must be a value associated with the
> untraded shares
> - The untraded shares, like the traded shares, are entitled to the
> company value.

> Basically, it just boils down to the fundamental question. "Is this a
> high quality company?"
> If the answer is no, move on, it doesnt matter whether it is a dual
> class stock or single class stock.

> cheers,
> www.oldschoolvalue.com