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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Night Trader who wrote (1978)10/29/2001 2:06:46 AM
From: LTK007  Read Replies (1) | Respond to of 99280
 
Martin,from my Cliggott post("Mr.Sunshine still sees Rain",comes this quote <<He predicts earnings in the next 12 months will sink as low as $37 per share of the S.& P. 500, compared with a high of $55 a share in 2000. Using a price-to-earnings ratio of 22, which he considers fair, given the current long-term interest rate of 4.52 percent on 10-year Treasury notes, he calculates that the S.& P.'s fair value now is only about 800.>> end quote.



To: Night Trader who wrote (1978)10/29/2001 9:11:47 AM
From: Zeev Hed  Respond to of 99280
 
Hot money is comparing to short term yields, longer term money to the longer term yields. The fed gauge the market relative to the 10 years treasuries. I must be "hot money" (g). By the way, MRK's story is even better than that since it pays a constantly increasing cash dividend and has in place a stream of stock buy back which in effect increases the after tax yield of MRK to more than 5%, that is yield, not earning power.

Zeev


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