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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: John Pitera who wrote (2394)6/26/2001 5:17:57 PM
From: Challo Jeregy  Read Replies (1) of 2850
 
John, I read that article -
to quote Biggs - he said -
"A: Low nominal GDP growth is going to have a very severe
effect on the profits of Old Economy companies. You're already
seeing companies like McDonald's and Procter & Gamble
announce that earnings will disappoint. There will be more
earnings disappointments, not just in tech. The rest of the
market is going to come down, too.I think interest rates at the
long end are going to decline in this environment, raising the
theoretical valuation of stocks. So maybe the S&P is only going
to fall from 1200 to 1000 or 900. It's not a big deal, a 15% or
18% decline. We're going to see new lows in the Nasdaq and
Nasdaq 100 because the carnage and the secondary effects
aren't over yet in technology."

What is your opinion of the long term rates? I'm thinking of buying some rental property - wondering
if I should wait?
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