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Politics : Ask Michael Burke

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To: gnuman who wrote (72795)1/4/2000 10:19:00 AM
From: Mike M2  Read Replies (1) of 132070
 
Gene, a rising tide lifts all boats - some more than others think of the Great Lakes and canal locks -g-. Similarly, when the market tanks almost all PE multiples will contract even the so called value stocks. If memory serves during the 1987 crash there were only 52 stocks on the NYSE that advanced. The expansion of earnings multiples to unprecedented levels has enabled this market to climb to unimaginable levels due to ,in large part, the Mutual fund industry's and Wall St.'s all too successful campaign of buy and hold for the long term. There is little critical thinking going on that many " positive" factors which are transient in nature. The short answer is there will be TL & EV for all. ho ho ho Mike
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