Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Alias Shrugged who wrote (5647)	12/18/1997 6:43:00 PM
From: John Carpenter	Read Replies (1) of 95453

You've made what may be one of the most pivitol points for 1998. S&P earnings growth is expected to moderate significantly. But, PFE, G, KO, (the usual money manager havens during slow growth periods) trade at extremely high PEs and have currency exposure. One of the reasons 1998 will be an exceptional year for the driller/oilfield-service group is because no other group/sector offers such a high rate of earnings growth for 1998 and 1999. Now, not only are fundamentals great and improving, valuations are more than reasonable. So, where else is the portfolio manager going to put his money when this group offers such a compelling earnings growth/valuation combo?

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