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To: EL KABONG!!! who wrote (11792)5/14/2000 6:23:00 PM
From: RocketMan  Respond to of 32957
 
Can you explain the connection between Level II and high valuations? I don't understand. BTW, Schiller uses 10 year average trailing earnings in his p/e calculations. There was a piece in the WSJ that used 5 year earnings instead, and the average p/e came down around 10-20% from what I recall. They call it "schiller light." <g>


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