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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: westpacific who wrote (7506)8/21/2001 9:38:32 PM
From: westpacific  Read Replies (1) of 74559
 
"Based on earnings as reported under GAAP, the S&P 500 actually finished last week with a P/E ratio of 36.7, according to a WSJ analysis. That is higher than any other P/E previously recorded by the index."

Of course, what these companies have been doing is calling everything under the sun special or one-time expenses, and then reporting whatever earnings are left. In some cases, reported earnings (documents the WSJ) were really large losses. It's flagrant, it's deceitful, and it's disgusting. And what's even more disgusting is that Wall Street's analysts have gone along with this mess.

Anyone in the market for expensive toilet paper.

West
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