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To: Skeeter Bug who wrote (85812)	3/26/2001 8:01:38 PM
From: Andy Thomas	Respond to of 436258

/decimated? slap a 5 pe on csco and then we're talkin' napalm in the morning... / 'fields of nephilim' (donning gas mask and frock) andy

To: Skeeter Bug who wrote (85812)	3/26/2001 8:09:21 PM
From: marginmike	Read Replies (3) \| Respond to of 436258

SKeeter what the average J6P doesnt understand is that PE is based on E which is a guess by some numbskull at Merril or CIBC who hasnt a clue, and is covering 100 companies. At this moment in time Prices of stocks have plumeted by 60% but so have earnings. VTSS,BRCM,PMCS just to name a few have cut their earnings by more the 50%, so even though their stock prices are down 60-70% they are only really 30% cheaper then they were at the all time MANIA. S&P still 24X and NAZ using very liberal guidelines is still 70-90. This is assuming earnings stabilize. Now I didnt go to harvard but I dont see how a recession is avoided when people have lost 30%-60% of their savings in investements. When Capital markets are prohibitive, and banks reluctent. The recession is coming it might already be here. It wont be a 98 style V it will be a 70's style atrocity. Yet everyday some 30 year old pop's on CNBC and says the blood is in the street. Well let me tell you in 98 the blood was much worse, an in 90 it was as well. people werent calling for bottoms they were transfering their money from bank to bank hoping their savings wouldnt be lost to an insolvent bank. It might get better before it gets worse because of easy AL, but it will get worse.