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

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To: Knighty Tin who wrote (169562)	6/1/2002 4:15:45 PM
From: Knighty Tin	Read Replies (4) of 436258

To all, I watched Forbes on Fox and Cashin In today. Funny stuff. Forbes was all about tech stocks and nobody much cared for them. As many know, I like the little ones with something hot and the bio ones. But I may have to start liking the plug uglies if so many folks hate them. However, as long as a show like F On F can devote an entire show to techs, they haven't stopped being overpriced. Cashin' In was funny. The obnoxious guy who agrees with most of my views (odd, that <G>) was ragging some poor guy who'd liked techs at the top. Every time he got zinged, the guy answered, "Wake up. That was 2000. This is 2002." But the folks who followed his advice in 2000 have no money with which to follow his advice in 2002. Nobody brought up that topic. Money doesn't just appear when a stock turns into a bargain. Barron's was good this week. The best thing was the letter writer who chided my hero, Alan Abelson, for claiming that the S&P 500 was selling at 26 times eps. On a Gaap basis, the number is 44, he asserted. Correctly. Of course, where I work, we are quoting a PE ratio of 6 times on forward eps. Forward to 2010. <g>

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