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To: pinhi who wrote (113964)2/21/2002 9:57:23 PM
From: limtex  Read Replies (1) | Respond to of 152472
 
Pin you can't compare the sentiment in 73/74 with today. 73/74 was a pleasant walk in the park on a sunny afternnon compared with today. 73-74 was inflation due to oil price inceases.

Inflation isn't so bad compared to what we have now. This is almost the beginning of the third year of a roaring bear market. When did that last happen? Worse still business shows not the faintest sign of improvement according to MSFT , INTC, IBM, Agilent Cienna, CSCO etc.

Best,

L



To: pinhi who wrote (113964)2/22/2002 1:29:03 AM
From: Wyätt Gwyön  Respond to of 152472
 
IF S&P earnings rebound to $55 as some firms are saying

that is just the operating earnings, which excludes all kinds of things. if you really want to compare apples to apples against 73/74, i think it makes sense to look at GAAP or at least reported earnings. slap a PE of 7 on real earnings of $25 or so and i think the SPX could fall a whole long way. jmho
i believe there is also a chance that the SPX could have negative earnings this year. that would be a first.