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To: RocketMan who wrote (24915)4/11/2000 5:41:00 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 42523
 
yep, the big caps, no matter which 'economy' they hail from, are ALL in a bubble. there's simply no regard for valuation....

valuation though WILL matter again at some point...right now i'm reminded of the early '70's nifty fifty environment.

it's like, nothing can possibly go wrong with GE. well, why not, i ask? pay 50 times earnings for a 10% earnings growth rate (increasingly inflated with stock market speculation gains earnings as it were) for a hedge fund in drag?

good luck...