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Politics : Formerly About Applied Materials
AMAT 220.28-6.4%3:59 PM EST

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To: Henry Eichorszt who wrote (28195)2/15/1999 8:58:00 AM
From: Ian@SI  Read Replies (2) of 70976
 
Henry,

An interesting column.

However, the formula seems to try to give a black and white answer for all stocks at all times rather than reflect any economic realities.

e.g. - should the same multiply apply if Inflation is less than 1% as when it's more than 10%?

- when interest rates are near 15% or when they're below 6%?

- when a cyclical is at the bottom of its cycle vs the top?

- ...

All the same, the column did provide food for thought.
Ian.
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