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To: Square_Dealings who wrote (37935)7/14/2002 3:58:07 PM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 52237
 
Fair value of P/E of 15 was with FED funds around 5% to 6% and inflation over 4% and unemployment of 6% to 7%

That is my point. Output per employee is much higher now than let say 1990 or 1995.

15 years ago $100,000 revenue per employee was great now most companies reached the $200,000 and above mark. Therefore adjustments must be made to the fair value P/E