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Pastimes : James Cramer Skeptic Thread

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To: Carmine Cammarosano who wrote (856)	10/20/1998 7:30:00 PM
From: EL KABONG!!!	of 1254

Carmine, Valuations are still way too high on selected large cap stocks, many of which have PEs over 50 and GPEs that are under a .5 rate. I cannot predict the specific direction of the market or any given stock, but historically speaking, either the earnings will rise to bring about higher growth rates & lower PEs, or the valuations of selected stocks will tumble to bring about lower PEs and higher GPEs. Since you've already conceded that the prospect of rising corporate profits may be a problem, which half of the equation do you think is more likely to come to pass? BTW, history tells us that there are no other choices... KJC

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