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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (89444)	2/12/2001 2:59:53 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Mis, Actually, I don't make general market predictions as I tend to have my head into the issues I follow from the long and the long put side. But, think about it. The S&P 500 has averaged a PE ratio of about 17 over the decades. The Naz, even after its drop, is still at about 100 with earnings probably on the downtrend or at least not moving up much. It is hard to say, because of the weightings. to see the index cut by 2/3 and still have a pe ratio greater than the avg. pe of the safer 500 doesn't sound incredibly improbable to me. So, my answer is serious if we go back to expecting Nasdaq stocks to sell near their values as operating businesses. It is flat out silly if we are really in a new pair of dimes. I vote for the former, though I always look for signs that I am wrong and the pair of dimes is here. The dates were just dumb, because when we get a valuation sea change is unknowable. Totally.