Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (15205)	2/19/2002 4:36:14 AM
From: Moominoid	Read Replies (2) of 74559

Earnings suck - but why is the price so high relative to them... I don't think the exuberance is totally irrational - I guess the equity premium is a reflection of irrational exuberance. But interest rates are very low and so P/Es should be higher than normal in any case.

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