How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 476.24

+0.3%

3:59 PM EST

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To: Bill Fischofer who wrote (60836)	8/26/2001 4:39:31 PM
From: Dave	Read Replies (2) of 74651

Greenspan made his famous "irrational exuberance" speech in December 1996 Yes, you're right. Sorry about that. Still, although the S&P500 P/E chart that TideGlider provided only goes up to 1998, that index is still way high today, and as it has managed to avoid declining significantly in the face of dramatically decreasing earnings, that aggregate P/E has stayed right near those historically unprecedented highs. Pretty scary stuff! For even more bearish fun, check out this historical data for the S&P 500 P/E, which goes up to 2/2/01: decisionpoint.com Dave [EDIT]: Notice in that chart that the P/E of the S&P 500 doesn't even extend above 20 until AFTER Greenspan's 1996 warning. I just tightened my crash helmet.

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