So let's call that market equity.

The market value equity of 1.5 billion.

You get a 189,000 market cap for this equity.

This is 120,000 in equity, market value of equity, he has another 105,000 in liabilites.

And this is the market value of the equity, what the market thinks the equity's worth.

And then, that gets you to the market value the equity.

So the market cap, or what the market perceives the value of this equity is, the market capitalization, is these two numbers.

So they're saying essentially that the market cap, and that's equivalent to the market value of the equity, or what the market thinks the equity is worth, that's 1 times 500 million shares.

They just look purely at the equity value or the market capitalization.

And it's essentially, what is the market saying the equity is worth?

But when the market value, or the market cap, is below the book equity, that's the market just saying, hey we're calling your bluff.

We're willing to say that the market value of your equity is 210,000.

I think that's what I wanted a write here, market value of equity.

By applying the same price to earnings, we're saying that the market value of this equity is 210,000, while the market value of this equity is what was it? 189,000.

So, remember, assets are equal to liabilites plus shareholder's equity, so if all of a sudden the market value of the equity, the market capitalization, for Ben's shoe company is 215,000... (That is the equity part right over here)

So the market is actually saying, no, you don't have 2 billion of equity, you only have half a billion of equity.

So the market is valuing their equity plus liabilities at 100 and... or 225,000.

European Union

European Alphabets

European foolscap

European Foolscap

European Countries

African countries that produce beef have quotas to export beef duty free to the European Union market.

And all it is, is what is market valuing the equity part of Ben's company worth

The European Museum

You look European.

You look European.

European Honey Bee

Well, they're European.

The main body of the European Common Market is to hold their initial meeting in Paris on Monday.

So equity.

Equity tranche.

That's equity.

African countries have been given an opportunity by Europe to export goods, duty free, to the European Union market.

My own country, Uganda, has a quota to export 50,000 metric tons of sugar to the European Union market.

But the market cap is saying what the equity of the company is worth in the market's mind.

Essentially when the market price of my asset dropped, all of that value came out of my equity.

Copenhagen, Shanghai, modern, European.

Eastern European. Tough. Goodlooking?

That's my equity.

liabilities plus equity.

This was equity.

left for equity.

liabilities plus equity.

What's my equity?