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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (66155)	8/12/1999 9:05:00 PM
From: Bill F.	Read Replies (2) \| Respond to of 132070

nasdaq/naz 100 is hiogher than tokyo was.but that is only one measure of the mania.

To: Tommaso who wrote (66155)	8/12/1999 9:07:00 PM
From: Logain Ablar	Respond to of 132070

T The amazing thing was the way John Templeton rode the japan market from P/Es of 3 (yes: 3, for some major companies like Mitsubishi) to 40, 50, 60 and only got completely out a year or so before the top . I believe J Templeton closed his positions when the multiple was in the low 30's. In hindsight he got out too early but it is always better to be out too early vs. too late. Our multiples are not any where near as high and our real estate buble was pierced in 87 to 88. Of course with liquidity drying up todays multiples are pricey. Must be why co's are being shot for just meeting expectations. Tim