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To: Les H who wrote (137861)	12/9/2001 9:51:23 PM
From: Spekulatius	Respond to of 436258

<< All three are known, expected, and factored in. >> I agree - neither Bin Ladens defeat, nor another cut by Greenspan will do much for the market. My leading indicator of trouble are the 10 and 30 year bonds that are getting clobbered. If the level of risk free return (government bonds) increases -P/E's have to fall, according to old fashioned investment theory. This is the stuff that counts: finance.yahoo.com^TNX&d=c&t=6m&l=on&z=b&q=l finance.yahoo.com^TNY&d=c&t=6m&l=on&z=b&q=l