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

To: westpacific who wrote (42902)	3/21/2002 6:46:21 PM
From: westpacific	Respond to of 99280

According to Bloomberg the 12 month trailing PE of the S&P is 62. Buy away longs, buy away. ROLFMAO

To: westpacific who wrote (42902)	3/21/2002 6:47:08 PM
From: Alex MG	Respond to of 99280

hey, lighten up, I expect more carnage down the road also. But meanwhile there's a lot to be said for liquidity, seasonality, hope (hype), and perception

To: westpacific who wrote (42902)	3/21/2002 6:55:19 PM
From: TRINDY	Read Replies (1) \| Respond to of 99280

WP, Like you I think that markets are, in general, overvalued. I think that there is some day in the distant future where you will be seen as "right on." However, there are tradable rallies that can be played profitably before that day arrives when people no longer want to hear, talk, read, or think about stocks. Such a day, I figure is quite a ways off. A double-dip recession will do it. I read Fleckenstein daily, and he helps keep my head in place. In this time of "recovery," such as it is, it is hard to be negative on stocks. Remember what Keynes said: "Markets can stay irrational longer than you can stay solvent." Anyway, I heard that he said this. Please keep posting and include evidence in support of your views. We are all here to learn. Cordially, Trindy

To: westpacific who wrote (42902)	3/21/2002 8:22:45 PM
From: SOROS	Read Replies (4) \| Respond to of 99280

You have to remember, most people write and speak based on their holdings -- nothing more, nothing less. The sheer idiocy being exhibited by some of these stocks going up is beyond belief -- especially when people have March, 2000 and the fall to look at for wisdom. You could pick dozens and dozens of examples, but let's just look at one -- seriously, just picked at random because I have read so many analysts that love it -- Veritas. Check out the figures: finance.yahoo.com Now check out the related insider data: biz.yahoo.com But, of course, these insider's actions are not a sign of their lack of confidence in the stock price or future business -- just as AMAT's actions are certainly not to be perceived as related to stock price at all. The insiders in these companies are brutally honest. I know this is a fact because the brokerage analysts told me so ;) The VRTS insiders are simply diversifying their holdings to lessen the risks associated with owning companies that lose money and have price to sales multiples of 11 ;) Why, VRTS stock was simply WAY undervalued SOLELY because of the 9/11 incident. It would NEVER have gotten to $17.30 otherwise. It probably would have gone no lower than where it was a few days before 9/11. That surely must have been MUCH higher than $17.30 ;) It makes perfect sense that it has run from $17.30 to over $42 in 6 months because their business has been BOOMING at an unbelievable pace. In fact, ALL tech companies MUST be growing like weeds if there is a correlation between their business and the appreciation of the stock prices in the last 6 months. Check a few of them out. Stocks just DON'T double and triple without valid reasons. Do they? I remain, SOROS