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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Paul Shread who wrote (2181)3/7/2001 11:04:44 AM
From: DukeCrow  Read Replies (3) of 52237
 
The earliest earnings data I can get on the Nasdaq is from January 1999. Using that earnings data and adjusting the price down to the October 1998 lows, I get an approximate Nasdaq aggregate PE of 36 (38.5 for the Nasdaq-100). This is not very exact since to get an accurate calculation I would need the earnings data for October 1998, but it does give a reference point for comparison.

I think the point you make about all the unprofitable companies now in the Nasdaq is very true. Currently, the Nasdaq's PE is considerably higher than the Nasdaq-100's. In 1998, they were relatively equal. I think it would be more prudent to track the Nasdaq-100's PE at the present time because of all the junk equity that was floated over the last 2 years; that junk really skews the earnings figures.

Also, the Nasdaq-100 is a tradeable index, so it's probably more important to track that than the Nasdaq Comp, anyway.

Ali
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