Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: LLCF who wrote (21317)	7/16/2002 3:53:53 PM
From: AC Flyer	Read Replies (1) of 74559

>>investing 101: Cyclical stocks top out at the top of the cycle<< ....and....you think we're at the top of the cycle? Well, that's what makes a market. On second thought, it's more like bear rationalization. High P/Es are bad (good for bears, I guess), 'cause it means prices will move down, but when projected P/Es fall 'cause earnings are improving, that's also bad because we must be at the top of the cycle. I see.

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