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To: Greg h2o who wrote (15817)	10/20/2000 3:21:06 PM
From: Art Bechhoefer	Respond to of 60323

Greg, you stated, "the street has ratcheted down what it is willing to pay for growth. they have become more realistic." Hmmmm. Here's a stock with earnings that tripled from last year, and the PE, based on trailing operating earnings (forget the investment gains) is about 40. Is that realistic? What's really happening is that the street has lumped the good and the bad together and downgraded the whole bunch. Unrealistic, lazy, and content with following the herd would be better descriptions of the street. Notwithstanding the facts and the actual dollars and cents that we've heard, it's those herds on the street that seem to have more influence. Art