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To: BGR who wrote (71376)	10/22/1999 10:15:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 86076

BGR, don't forget that a mania's staying power is underestimated by most people, both bulls and bears. however, as it is nearing it's end, both camps tend to make outrageous claims..."dow 36,000" is no more credible than dow 3,600...in fact the latter sounds more realistic to me. people forget that that's a level we have last seen only a few years ago. it seems far away in price, but not in time. p/e's have expanded much faster than underlying profits due to the excess liquidity in the system. it's not a sustainable phenomenon.