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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Math Junkie who wrote (485)	5/17/2002 11:11:19 AM
From: exp	Read Replies (1) \| Respond to of 30712

Richard, my answers re SPX fair value: (1) I stand by all my points including the fact that market knew about options grants but never took this into account -it will now (2) On P/Es: I meant that if you consider GAAP earnings as the norm, then moving to pro-forma will allow P to go higher thus making P/E higher with E=GAAP eps, and conversely, if we account for options then P will move lower and so will P/E go lower with E=GAAP eps (3) Yardeni site (not operational now) had calculations of SPX fair value but you can use my post which has the same complete info: Message 17460482