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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: fut_trade who wrote (1627)11/30/1999 11:24:00 PM
From: Dwight E. Karlsen  Read Replies (1) of 19219
 
but if they keep adding these "giants", I might need to drop P/E as one of my fundamentals indicators.

Peter, I didn't know anyone long still actually paid any attention to an archaic thing like "p/e". The fund managers sure don't, and their buying is what drives large-cap stocks up to where the price discounts 5-10 years of future cash flow.

Just a few days ago an analyst on CNBC was said "there is no stock out there that is too expensive". I didn't see the segment, but I understand it was said in all seriousness.
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