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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (7747)	11/12/1997 9:53:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 18056

Zeev: you're myopic. Look at the banking sector. All these banks are incredibly overpriced, you're only looking at the tech sector and not at the banks. These will come down in a separate wave. Retailers are unsustainably priced. These also have not been touched as of yet, and will come down in a separate wave. Hardware stores have p/es of 40 and 7 times book. It's not over, no no no. So we may see a bounce off lows in the tech sector, but we will not have an end to the real correction until the kahuna in the financial sector happens. Somebody has to pay the piper for those mutual-funds that were getting 35% a year returns inflating bank stocks since 1990.