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To: jjetstream who wrote (40412)	11/22/2000 5:19:36 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

it sure was. but just as only t/a could get you the right investment results on the way up, the same is now true on the way down. it makes almost no difference what the fundamentals are, because no matter what they are, almost ALL tech stocks are still at nose-bleed valuations. when the market did its blow-off dance to the upside, i often remarked that once the NAZ had reached a p/e of 180, well, why not 300? it's equally meaningless. if it returns to its historic pre-bubble valuation range amidst a general economic slowdown/recession, we'll see it back in triple digits eventually. the NAZ, not its aggregate p/e. that will return to double digits in that case. sounds preposterous? so did NAZ 5k.