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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (30339)7/29/1998 3:56:00 PM
From: Cynic 2005  Read Replies (3) of 132070
 
<<''At the current level of stock prices, a decline in corporate earnings of 30 percent would cause the market P/E ratio to soar to about 40, a level never before seen in the U.S. stock market,'' Emmons said. He noted such valuation was reached by Japan's Nikkei index near its top around 36,000.>>

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