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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (26417)	3/5/1998 3:37:00 PM
From: valueminded	Respond to of 132070

Mike: I would agree with your synopsis, if the market was logical, but look at the valuation of many of these stocks. They have nothing to do with earnings growth. (or in the case of Mu earnings at all <g>) The estimates are continually whittled away and yet the stock price often rises. This can continue as long as individuals 1. have money to throw at the market and believe the market will always go up. (ie cash is trash). It will get to be interesting when the competition for money exceeds the growth rate of the money.ie Either lots of debt issues by companies (either here or internationally) or a concientious decision by the fed to slow the growth rate of the money supply. (just my opinion)