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To: Don England who wrote (86425)	2/6/2001 12:38:44 AM
From: Gottfried	Read Replies (1) \| Respond to of 95453

Don, OT *** Hickey's math is lacking. He says >You're seeing companies like Intel (INTC:Nasdaq - news), which looks like it might be cheap because it's dropped in half, selling now at almost 40 times estimated earnings -- 40 times! Intel earned $1.51 so trailing P/E is 23+ now. Historic PE quicken.com Glaring errors like that make me suspicious of the rest of his statements. But, it made me look things up. :) And, this business of assigning a PE to an index like Nasdaq makes little sense. Many NAZ companies have zero or negative earnings. It makes as much sense as saying "on average each of 50 people is worth $1B" when you have Bill Gates and 49 bums in the same room. Regards Gottfried