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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: UnBelievable who wrote (47909)	12/14/2000 9:27:24 PM
From: Andy Thomas	Read Replies (2) \| Respond to of 436258

--Another big change: Equity valuations are now much more sane than they were last winter. According to Cohen's models, stocks are now roughly 15% undervalued. In contrast, equity prices were already dangerously near her year-end targets as early as last March. "Simply stated, we thought that the S&P 500 was about nine months ahead of itself, but we expected the fundamentals to ultimately catch up with share prices," Cohen says. Instead, of course, share prices soon fell back to better reflect fundamentals. -- is someone on the glue bong now? andy