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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: DD™ who wrote (1460)10/8/1998 9:11:00 AM
From: Wren  Read Replies (1) of 15132
 
Abbey believes "stocks will continue to grow due to multiple expansion"

Earnings growth is shrinking, but people will pay higher and higher P/Es for the stocks. What happened to the idea that the value of a stock is the present value of its stream of future earnings?
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