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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Lars who wrote (7314)	7/31/1999
From: JF Quinnelly	Respond to of 15132

Ohhh, are we living in interesting times. I don't know the exact P/E as of today on the S&P 500 but we could get a 25% correction and still have the P/E in the 21-22 range. Dow 8,000 anyone? And in reaction the market's P/E can swing as wildly to the undervalued side as it has swung to the optimistic. What was the low in '73, a P/E of 7? A remote possibility, I'm sure, but it does give one pause. I keep in mind what an old investment mentor of mine used to say: "The market doesn't have to do anything."