... board members, CEOs, and teachers of finance (in-cluding the authors of this book) believe that Ebeneezer Scrooge hadit right the first time—before the spirits enlightened him. The num-ber-one ... 205Valuing Citigroup—December 17, 2002 208Valuing Merrill Lynch—December 18, 2002 220Valuing Berkshire Hathaway—December 18, 2002 228Valuing Washington REIT—December 20, 2002 237Summary 247Glossary ... willbehave in the near term and how stock market pessimism or optimismwill affect their behavior. To a technical analyst, when a stock’s pricetrends upward, it is not necessarily because of better...