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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (132491)	3/20/2001 9:28:11 AM
From: Little Joe	Read Replies (2) \| Respond to of 769670

JDN: I hope you are right but I don't think so and this is why. The market is extremely overvalued in terms of PE. This was justified because earnings increases were great for a long time. Now we are finding that earnings growth has slowed down tremendously. Thus we have a combination of lower pe ratios based on lower earnings. If you accept that there will be a regression to the mean in the pe and that the market will overshoot on the downside, we are nowhere near the bottom of this mess. Little joe