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To: Dr. Ronald Peter Hellendall who wrote (2770)3/31/1998 8:46:00 AM
From: JZGalt  Respond to of 5482
 
This might sound dumb, but why do you think a study of p/e based on the last 12 months earnings is significant to a group of companies that are unlikely to have the same economic outlook in 1998 as in 1997? In this case the past may not be indicative of the future (or at least the near future).