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

To: Mike M2 who wrote (28142)	5/13/1998 6:04:00 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Mike, Yup, I remember Ted coming back with the reply that ratings went up during the bear market of 1994. To paraphrase Crocodile Dundee, that wasn't a bear market. That was a wee sloth. A grizzly is a bear market. -g- I did read Dreman and his first comment, about the earnings yield on the S&P 500, were right on. There was a time when stocks had to have a higher yield than bonds, because the yield was riskier. Then we went through a long period where the eps yield had to be double or triple the bond rate. I don't know how you justify an earnings yield lower than bond rates. And that is if you believe the earnings are real, which I don't. Weird times. MB