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Politics : Ask Michael Burke
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To: kahunabear who wrote (31892)8/30/1998 11:44:00 AM
From: Knighty Tin  Read Replies (1) of 132070
 
Whip, But, as we have reached ever more ridiculous valuation levels, people have come to accept less silly but still exorbitant valuations as "cheap." Abelson's chart is very instructive in this regard. Even after this decline, we are still 22 pct. above previous PEAK pe ratios. And folks say we are at a bottom. -g- We may bounce, but we are nowhere near a bottom.

The sad thing about this chart is how often the real bottoms in operating pe ratios have a note about a bank crisis next to them.

Another thing worth noting is how much our pe ratios have gone up SINCE the Asian crisis started. The 500 is still above that level, even after last week.

MB
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