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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Bindusagar Reddy who wrote (11541)	12/7/1999 7:08:00 PM
From: The Phoenix	Read Replies (1) \| Respond to of 21876

BR, I can not disagree with you - although I suppose one could argue that the YaHOO's of the world are tomorrow's NBC's, and Viacoms, etc.. ya know - media giant kinda thing. Still $90B is rich... not doubt. However I think efficient market theory will tell you that over time the market becomes efficient... the recent market may or may not be stable here. If it is then the market has clearly changed, if not, well... then vaulations will return to represent past measures. The question everyone is fighting with is just this point. Are 100 PE's out of whack or are they what we view as a reasonable level to invest in...and if so is the market operating effeciently at those levels.... I don't have any answers and I suspect my questions are like yours. OG