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Politics : Ask Michael Burke

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To: Mike M2 who wrote (71057)	11/28/1999 8:42:00 PM
From: Simba	Read Replies (1) of 132070

Mr. Magner: Dr. Richebacher says in the article you posted: Compared to a year ago, profits per share on the S&P 500 have declined from $39.72 to $37.71, and on the S&P Industrial Index from $42.13 to $38.37. Over that time, as all investors know, share prices on the S&P 500 have risen spectacularly. from IBES data the SP500 is close to earning $50 this year and about $54 consensus top-down for 2000 ($58 consensus bottom-up for 2000). So is Richebacher's data good ? Even so I agree with all of what he says and the market is extemely valued even considering IBES numbers. Simba

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