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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (25969)	2/12/1998 6:39:00 PM
From: kahunabear	Read Replies (3) of 132070

MB and All, IMHO, today I saw one of the most ridiculous examples of hyping this market that I have heard yet. There was a report today that was actually touting how incredibly underpriced many industry groups are when compared relative to the the S&P. Did anyone else see it ? I here talk about stocks selling under a market multiple all the time, but this seemed to take it to a new level. The impression it left was that many stocks are incredibly cheap. The logic went something like this. If tulip bulb A is selling for $1000, then B selling for $500 is way undervalued because it sold for $10 back when A was selling for $5. Of course, they didn't say it that way. They just showed the huge percentages that stocks are undervalued by. I wonder if they used forward PEs in their calculations ? <g> WS

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