Microsoft as the standard for valuation

I happen to be a shareholder of Microsoft (MSFT) and do consider my position a "value" investment, meaning that the stock price has been beaten down and any over-valuation has been eliminated so that the price is much closer to the "true value" of the company. Not everyone agrees with me on that, but I was amused today when I read in an article in The New York Times by Louise Story entitled "In Bear Stearns Case, Question of an Asset's Value" that:

Investors are increasingly complaining that banks have become too opaque about the assets they own and the trades that make -- or lose -- them money. Financial companies flocked en masse in recent years to trading assets that are far harder to value than, say, shares of Microsoft.

At least it is somewhat comforting that a reporter for The Times sees some value in Microsoft.

-- Jack Krupansky