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Politics : Ask Michael Burke

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To: valueminded who wrote (65411)	7/28/1999 10:33:00 AM
From: Knighty Tin	Read Replies (3) of 132070

Chris, Totally disagree. The reason there are low pe stocks is because nobody likes their fundamentals. But, longer term, fundamentals are all that matter. Right now we have a manic bubble and the market is not always like this. Eventually we will return to the concept that stocks represent businesses and you are buying them for their ability to kick out internal returns over the next several years. Nobody in his right mind would buy a business, with his own money, with an earnings yield under 3% and a growth rate under 10%, which is where the S&P 500 is. But they do buy trading sardines in the short run because analyzing businesses is harder than jumping on an issue that is going up for no reason.

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