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To: Jeffrey D who wrote (8491)9/10/1999 2:08:00 AM
From: marc ultra  Read Replies (2) | Respond to of 15132
 
Jeffrey re<<<<high P/E markets are less risky - argues Forbes columnist Ken Fisher.>>>

I find this on this worthless side. Bull markets largely are given good valuations I would think but if you take this logic to its ultimate conclusion a high P/E market should continue going up to infinity. Was the market at the end of the 73/74 bear more risky at a P/E in the 7's? These are decisions that can only be made in hindsight. A market with operating earnings on the s&P around 27 and a hostile Fed along with rising long term rates and suggestions of incipient inflation sounds risky to me but I'm sure I do not have the cavernous neuronal capacity of this columnist

Marc