This exercise puts students into a classroom market in which the assets being traded pay a fixed cash dividend each period. Discounting is induced by the fact that each asset unit has a one-sixth probability of failing and becoming worthless, which produces a "flat" fundamental value. Student traders earn money from dividends and capital gains (losses). The trading prices often rise above the fundamental value in a bubble, which is usually followed by a crash. The exercise stimulates a discussion of present value and market trading strategies.