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Politics : Formerly About Applied Materials
AMAT 224.01+1.7%Nov 21 4:00 PM EST

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To: Ian@SI who wrote (18353)4/1/1998 1:47:00 PM
From: Andrew Brockway  Read Replies (2) of 70976
 
Ian,

Yes, let's look at reality. An S&P500 that has risen 20-30% each of the last 3 years and is currently up 14% in a young 1998. A historically high S&P PE ratio. Corporate earnings that have not risen across the board over the past six months. Large (Intel, Compaq, KLAC) tech firms that have hinted at troubling times ahead. A NASDAQ up 17% in 1998.

Just the other day, Peter Jennings (ABC News) ran a story about the unrealistic expectations investors currently have about the stock market. Not that ABC News is known for its insightful market commentary, but when the masses get wind that the market normally doesn't act like this, then we're in for a real taste of reality.

Your friend in reality,

Andrew
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