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To: GST who wrote (111990)	11/21/2000 7:43:26 AM
From: Sarmad Y. Hermiz	Read Replies (3) \| Respond to of 164684

>> perhaps the Fed wants to dampen a rebound back up to the silly prices of earlier this year -- or even last month. GST, I wonder how much of the nasdaq's rise from 1500 in 1998 to the current 3000 is due to p/e inflation and has no economic justification ? One way to figure that is to check how much revenues of nasdaq companies have increased since then. Does 20% seem plausible ? 30% ? if that is a good measure, then there is a long way to go - down! What would be a good method to figure that ?