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Technology Stocks : JDS Uniphase (JDSU)
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To: Kent Rattey who wrote (8875)4/15/2000 1:09:00 AM
From: Hank Stamper  Read Replies (2) of 24042
 
Kent,
"I recall the historical S&P p/e at 24"
Your recollection is incorrect. The historical average for the S&P p/e is not 24. In actual fact, 24 is at the high end. It is just that now, we are hyper high end. Your research will bear out that the average is approx. ten points lower, as I indicated.

"If you can give me an example of a prolonged bear market during great economic expansion in the US, I'm all ears!"
I did not use the term "prolonged" so I am not really sure how to answer. However, historically it is common for corporate profits to be on the rise at the beginning of bear markets. That's just the nature of the beast. As one example, try the grand expansion during the mid to late 1960s that ended in the bear that began in 1970. The "go go years."

With all good wishes,
David Todtman
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