Consistent with the points by JLatham that COUNTIF doesn't work with closed
referenced books, perhaps you could try something like this instead:

=IF(ISNUMBER(MATCH(A4,path_[book1.xls]Stocks'!$B$10:$B$413,0)),"S",IF(ISNUMBER(MATCH(A4, path_[book1.xls]Income
Securities'!$B$10:$B$413,0)),"FI",IF(ISNUMBER(MATC H(A4,path_[book1.xls]Property & Infrastructure'!$B$10:$B$413,0)),"PI","None")))

Adapt the above to suit the path & name of the referenced workbook ..
--
Max
Singapore
http://savefile.com/projects/236895
xdemechanik
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"Micayla Bergen" wrote:
i have this formula
=IF(COUNTIF(Path/Stocks'!$B$10:$B$413,A4),"S",IF(COUNTIF('Path/Income
securities'!$B$10:$B$413,A4),"FI",IF(COUNTIF('Path/Property &
Infrastructure'!$B$10:$B$413,A4),"PI","None")))
i want S, FI or PI to be returned depending on where the value in A4 is
found, but i get a value message.
Please help.
thank you