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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: sun-tzu who wrote (140442)	12/26/2001 2:08:49 PM
From: John	Read Replies (1) of 436258

2)earnings prove the recovery thesis wrong. I concur, but when that realization occurs, what prevents "them" from continuing to say, "okay, we were wrong about earnings THIS quarter, but recovery is still coming NEXT quarter!"? Hell, they've been doing that for 18 months anyway, as the numbers have progressively become more and more discombobulated. The bottom line is THIS... EQUITY VALUATIONS ARE AT RECORD HIGH LEVELS, both historically and otherwise, and there is NO catalyst for growth! This is so insane, but again, this does not surprise me at all. Good call, sun-tzu. John

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