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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject9/6/2002 7:10:40 AM
From: j-at-home  Read Replies (1) of 436258
 
Gross redeeming himself <g> says Dow 5,000 fv

6:51am 09/06/02
Pimco's Gross says Dow 5,000 fair value ($DJIA) By Greg Morcroft
Bill Gross, managing director at bond investment giant PIMCO said he believes fair value for the Dow Jones industrial average is 5,000. In a note on the company's website, Gross argued that above Dow 5,000, U.S. stocks remain overpriced relative to bonds and will continue to underperform their fixed income cousins. "Stocks historically return more than almost all other alternative investments but only when priced right when the race begins. If you start from day one with P/E's too high or importantly, dividends too low, you will not obtain equity returns in excess of bonds," Gross said.
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