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

To: gnuman who wrote (72736)	1/3/2000 4:02:00 PM
From: Mike M2	Respond to of 132070

Gene, yes the Nascrap 100 skews the absurd into the territory of insane but I don't have the numbers handy hopefully someone will chime in. also keep in mind that the quality of earnings is the lowest in history IMO. This is due in large part due to stock options accounting see Forbes Andrew Smithers for the details. Mike

To: gnuman who wrote (72736)	1/3/2000 4:16:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Gene, Ned Davis just did a study on the S&P500 without the high techs and money losing internets. The PE of the remaining stocks was 30.5x. That's still in "out of space" territory. However, I see some stocks outside the S&P500 and Nasdaq "nifty techies" that are cheap or reasonably priced. So I think the market is two tiered. Overall we are higher than ever by far. Wayne

To: gnuman who wrote (72736)	1/3/2000 5:30:00 PM
From: Craig Richards	Read Replies (1) \| Respond to of 132070

I have the P/E ratio for 4665 NASDAQ companies. According to my calculations, as of the close of trading on 12/30, total market cap was $6192462.58 million, total earnings were $13290.50 million, for a composite P/E of 465.93. The median P/E ratio was 7.697 (this is because 2010 companies have negative earnings.) If you give me a list of NAZ 100 companies that I can cut/paste, I can calculate the composite P/E without those companies included. Craig