For those who didn't hear Kernan's comments live, here is the immediate transcript from my.tveyes.com.
Karen
<<<CNBC 3/16/00 - 2:25:21 PM ..... out. Maria: Never so bad. Joe: Right, i heard bob's report about has anything changeed in the last two days, at for example procter & gamble, or and some of these companies, for the move up. But, i'm thinking, had anything really changed from let's say 8 or 9 months ago, to put them where they were in the first place almost like the sell-off was you know, that is where the pendulum swang an awfully long way perhaps in the wrong direction you've got a company 40 billion in sales, all right? And it was it had market a couple of 65 billion dollars. So it is at one and half times current year's sales. All right. Now it has bounced its bounced 10 points and admittedly knowing changed last two days for procter & gamble but where was the real craziness there where had pendulum really stwung far don't know, just asking look at the other hand at jds uniphase , now, this is come down a little bit, recently, and, did that make sense that a company with 282 million dollars in sales, was sporting a market cap 100 billion dollars? So, you know, what's happened if the last two days, to me, almost looks like or perhaps somewhat -- would argue not to me because department doesn't look like anything to me but some would argue that this huge move in the dow and nao in old-economy stocks last two days doesn't even get these things anywhere close to what would be more normal, based on their actual fundamentals. And -- what was that? Maria: That is fundamental what you are saying. Joe: You know what i'm ..... >>> |
