Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 228.68

+1.2%

3:59 PM EST

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To: ratan lal who wrote (55666)	11/15/2001 1:06:30 PM
From: michael97123	Read Replies (1) of 70976

"Need IRRATIONAL EXUBERANCE for the stock price to go up into 3 digit p/e's." RL, Exhuberance doesnt always have to be irrational. An argument can be made(as it was by jerome) that with all this liquidity another boom may ensue which will justify valuations. I tend to doubt it but all this money being printed is driving the market into believing just that. Even if it is only a boomlet, stock prices could do well. Irrational exhuberance happened after Greenspan started raising rates and the market refused to take this into account thinking the boom would go on forever. mike

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