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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (20191)	9/8/1998 2:37:00 PM
From: James Strauss	Read Replies (2) of 50167

What If??? ~~~~~~~~~~~~~~~~ Ike: Here is the latest earnings of the S&P 500... tradetools.com That's $38.97... That represents a P/E of about 25... Very overvalued by any historic standard... If it drops to a P/E of 20 which still represents overvaluation we get [20 x $38.97] = An S&P of 779... Allow for a 3% earnings increase and we get about 802... That's about 20% lower than current levels... So, even if we split the difference for a 10% further decline, that puts the S&P around 900... Alan Greenspan may be able to manipulate interest rates, but he can't change the next few Qtr's corporate earnings unless he gets someone from the Hong Kong Gov't to oversee the release of those numbers... : > Jim

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