Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: coug who wrote (40023)	5/16/1999 9:27:00 AM
From: J. P.	Read Replies (2) of 94695

I think the inflation is in equities. Equities right now are selling at multiples far above historic levels with regards to growth. Corporations have limited pricing power, but feed from their asset bubbles (look at how IBM derives their EPS, look at employee option programs). Also commodity prices are coming up off the floor (I've heard the term 'reflation' used for this) and oil is up 50% from the recent bottom. May or may not be an impending disaster, may or may not be an equity bubble. Maybe this is a new era where the rules have changed.<g>

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