Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Joseph G. who wrote (3953)	8/13/1997 12:32:00 AM
From: kahunabear	of 94695

It looks like the PPI and AMAT hype will determine the market direction tomorrow. BTW, I got a response back from the Bureau of Labor Statisitics about whether stock options are included in any wage inflation calculations. They were actually very prompt about getting back with me. Old Bill has got this government running like top (and this from a conservative). Anyway, they don't include options. They said they did a survey in 1993 that showed only a small % of people receive options, so its not included. Well, I would say that 1993 was a long time ago and that small percentage accounts for a lot of wage inflation. I still think this is a hidden cost that will eventually have an effect. I seem to be the only one concerned. I believe, someone posted a chart showing the market 'price to book' has gone parabolic over the last few years. I think that options are an example of cash being siphoned off the books into never never land. It seems to me 'price to book' and 'price to sales' maybe better gauges of the overvaluation than p/e these days. Of course, PEs are ridiculous too. Britt

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