Thanks, this illustrates the first problem well, I was just pointing out the kind of impact Cuban's proposal could have on a valuation. Any tax implemented like

Thanks, this illustrates the first problem well, I was just pointing out the kind of impact Cuban's proposal could have on a valuation. Any tax implemented like this would still have a proportionate effect on returns. Not sure that anyone is trying to make a case that we need less shares; rather, we need a system that incentivises a focus on fundamentals.