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To: Maurice Winn who wrote (118784)5/14/2002 5:16:06 PM
From: Clarksterh  Read Replies (1) | Respond to of 152472
 
Maurice - What was wrong with my argument? For example, life expectancy. Just tell me why that isn't an issue. - It has to do with alternate forms of investment. If the P/E is too high there are better rates of return in bonds or ... . Now of course there isn't perfect liquidity between the alternate forms of investment so there can be quite long duration deviations, but ... .

Clark