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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (219861)	2/9/2003 10:49:04 AM
From: Knighty Tin	Read Replies (2) \| Respond to of 436258

Mike, The consensus was that it would be a long war, the term "another Vietnam" was bandied about, and that the stock market was doomed. The PE ratio of the S&P 500 was at 14 times, so we knew that high number could not be a bottom. Today, we know it's going to be a short war, 18 hours, according to one prognosticator, the stock market will go up 1000 points as soon as the first Iranian is killed, and that 28 times eps is obviously cheap for the S&P 500.