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

To: Will Lyons who wrote (2948)	11/4/2001 11:54:40 AM
From: Zeev Hed	Respond to of 99280

Will, to try and handle the Naz average, I run once a month an update on the ten largest caps, this morning results are (on trailing twelve month, excluding the $50 B paper loss JDSU suffered last year, which I will come to later) PE of 52.4, PB of 4.16 and PS of 6.36. I would say it is on the "rich" side. As for the $50 B loss of JDSU, they are allowed to take future tax deductions for $50 B of paper they actually sold the public (a big chunk of that in the acquisition of SDL), which is now worth peanuts. Now, that is creative financial engineering if I have ever seen any. Zeev