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Politics : Idea Of The Day

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To: J.T. who wrote (16518)	1/20/1998 10:51:00 AM
From: Lee	Read Replies (1) of 50167

JT, Re:<< Just some thoughts.>> Excellent thoughts, you actually defined the quandry of some of the analysts we hear from about buying at higher PEs. I think you defined the problem exactly in that, either earnings have to continue to outperform or interest rates have to continue lower. But there might be another consideration in that, maybe the historical norms for PEs are no longer valid in a global economy? I certainly don't have the answer for this question but in the technology area, where impressive productivity gains are largely due to technological advances, maybe our historical measures are lagging. Just don't know. Also, we're increasingly a service oriented economy and people may put higher premiums on these sectors? Thanks again for your viewpoint. Lee

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