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Prof. Aswath Damodaran on Alibaba's valuation

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Excerpt from CNBC -- "I'm just amazed that people can value the company with the information they have right now, which is nothing. All we know is it made about 8 to 9 billion dollars in revenues. It's a very profitable company. We know how it makes money. It's an advertising company. It's not a retail company. but beyond that, we know nothing. So, this morning, I pulled up about 100 articles on Alibaba's valuation, and every one of them was constructed around one word: China. That's all they said. The company's worth a lot because it's in China. There's nothing more to the story right now than that big country out there with a billion people."

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