Nifty 15 Stocks Show Similarity to Bear Market, N.Y. Times Says
Bloomberg News
August 16, 1998, 3:30 p.m. PT
New York, Aug. 16 (Bloomberg) -- Coca-Cola Co., Dell
Computer Corp. and Amazon.com Inc. are among stocks in the Nifty
15 which are showing divergence to the rest of the market,
similar to what preceded the bear market of 1973-74, said David
Dreman, who runs the $6 billion Dreman Value Management LLC, the
New York Times reported in its ''Market Watch'' column. The
stocks' multiples are higher now than in the 1970s, Dreman said,
and the Nifty 15 fell on Friday for the first time during a
period of market strength. The Nifty 15 also includes America
Online Inc., Cisco Systems Inc., Compaq Computer Corp., Excite
Inc., General Electric Co., Home Depot Inc., Intel Corp., Lucent
Technologies Inc., MCI communications Corp., Microsoft Corp.,
WorldCom Inc., and Yahoo! Inc., the newspaper reported.
Dreman also owns oil service companies like Global Marine
Inc.
(NYT 8/16 3-1 www.nytimes.com)
--Anthony Massucci at (609) 279-4048 in the Princeton
And the article on the NY Times:
Market Watch - A Time to Value Words of Wisdom
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