That's why we put this team down for a multiple of 2.8, against the 1.9 for the Minnesota Twins, with an old stadium and perhaps the worst lease in baseball.

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Michael Blum, an MLP analyst at Wells Fargo Securities LLC, figures MLPs are trading at a multiple of 11.8 compared with 12 over the past five years using discounted cash flows, the standard metric for valuing MLPs.

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Apple will do it the hard way: Excluding cash, Munster figures Apple trades at a dirt-cheap multiple of 8.5 times earnings.

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Revenue has grown by 18.8 year over year, and shares trade at a forward multiple of 62 times projected 2012 earnings.

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