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Technology Stocks : Intel Corporation (INTC)
INTC 35.53-1.1%Nov 14 9:30 AM EST
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To: Harry Landsiedel who wrote (91236)10/29/1999 12:30:00 AM
From: Paul Engel  Read Replies (5) of 186894
 
Harry - Re: My beef with Greenspan is his jawboning the market regarding asset values. The S&P has a PE of 26. He's appoplectic about that. But the reality is the bottom 400 of the S&P has a PE of 16, which is not unrealistic at all, given interest rates and growth rates.
So what happens every time he questions valuations? The High PE stocks don't correct, 'cause those who own them don't pay much attention to valuation. But those who own the "value" stocks DO pay attention to valuation, and those MF managers hit the panic button and sell. That's part of the reason for the two tier market that we have, IMHO."

That's an interesting analysis.

I often wonder why Wall Street big shots always emphasize the SHORT TERM, trade in and out on whims, while all the time trying to con individuals into thinking this is a LONG TERM INVESTMENT BUSINESS and they should turn their hard earned dollars over to these hair-triggered, glorified day-traders.

Paul
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