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

To: Skeeter Bug who wrote (76255)	2/19/2000 5:53:00 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Skeets, I laugh at price targets. They are relatively new in the world of research. In the good old days when you had real analysts and not cheerleaders, the pro would analyze the co., its earnings potential and then value the most probable earnings results with a dividend discount model that adjusted for the risk of achieving those earnings. He never gave a price target, because that target would vary with rates and the valuation of the market. He would simply state how attractive or ugly the issue was relative to the broad market and its industry. Now, the morons throw out a SWAG absolute number because they aren't even aware of things like earnings, interest rates, dividends, or discounting. And most of their picks don't operate in real industries, anyway. <g>