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To: UnBelievable who wrote (76914)	3/7/2001 9:51:37 PM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

$28.2B in sales and a market cap of $19.1B, the 80 P/e kind of distorts this...

To: UnBelievable who wrote (76914)	3/7/2001 10:28:22 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

some cyclicals produce losses as a matter of course at the bottom of their cycle - e.g. the steel stocks. that is when one should buy them - similarly, a stock like IP is best bought when it either loses money, or makes very little, as that is normal at the bottom of its business cycle. when its p/e is low, it likely is close to the top of the cycle. cyclical p/e's have to be interpreted differently. again, this is true in a 'normal' post war business cycle, something that imo doesn't necessarily pertain to the current situation, since we're in a post bubble world now.