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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (40594)	2/18/2000 1:59:00 PM
From: Jacob Snyder	Read Replies (2) \| Respond to of 99985

re: "in a rational world, rising interest rates should hit high p/e companies' stock much more than low p/e companies' stock." I, and many investors, have been waiting and waiting for the (investing) world to become rational, ever since the Fed started raising interest rates. So far, the world just keeps on getting more irrational. My take on that is: we are on the extreme edge of the bell-shaped curve, in the midst of a once-a-century event. But, as time goes on, more and more investors are giving up on expecting a return to the rational rules of the past. It's amazing how many intelligent, articulate, experienced people, who used to pay close attention to things like PE ratios and interest rates, are now saying: "the rules of the past are meaningless".