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Pastimes : JESUS and FINANCIAL FREEDOM

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To: yard_man who wrote (1195)	9/27/1999 5:29:00 PM
From: gregor	Read Replies (1) of 1283

Many of God's people are going to be caught in the looming "whatever"..... Yesterday's plunge was believed to be triggered by very bearish comments from Microsoft President, Steve Ballmer, who said at a Society of American Business Editors and Writers conference yesterday, "There is such an overvaluation of technology stocks, it is absurd ... I could put our own company and others in that category." [What confidence in ones own company]! Of course, we had warned about the Nasdaq's extraordinary 145 P/E multiple several months back. According to the recent work of James Stach, of Investech Research, this P/E ratio is now up to 159!!!! Quite amazingly, this in itself implies just how out of proportion investor expectations have become against the market's impossible ability to deliver. In other words, expectations have become unobtainable.

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