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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (7964)	8/5/1999 2:27:00 PM
From: Wallace Rivers	Read Replies (1) \| Respond to of 78825

Gotta share this one with all my friends here: I was picking up lunch at the local corner store. TV was on CNBC (the owner does a little trading), and AOL flashed on the ticker. Another guy, who has a full time job, says "look at that AOL!" I kidded him, said, "you must be one of those day traders!" He replied, "I'm trying to be..." He gave his opinion that AOL was dirt cheap, I said,"Yea, if you want to pay 100+ times earnings...", which got a befuuddled look from him - like how does a PE relate to growth?! This is the mentality of the market now. It used to be, the PE of a stock should not exceed its growth rate. Still these internuts are overvalued IMHO. Thank you for letting me vent, fellow value investors!