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To: Sarmad Y. Hermiz who wrote (64382)6/24/1999 1:16:00 PM
From: GST  Respond to of 164685
 
Sarmad -- IMO sometimes the economic backdrop means squat -- but sometimes, like now, it means everything. Higher interest rates cause a collapse of pe or ps multiples. Interest rates are going up. Techs are going down. Recovery in Asia, including Japan, practically guarentee higher rates. Strong US growth is the the final straw. This is not brain surgery.


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