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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Pancho Villa who wrote (9456)	6/1/1998 11:26:00 AM
From: Oeconomicus	Read Replies (2) \| Respond to of 18691

From Briefing.com: S&P Earnings : DMG economist Edward Yardini lowers 1998 aggregate earnings forecast down from $48 to just $45 to $46, representing a meager gain from 1997 earnings of $44.85, and he says 1999 earnings will be flat... He's talking operating earnings (before charges), so his numbers are higher than those used for the published PE numbers in WSJ and Barron's, but WOW! Two years of flat earnings? Nice outlook. I'd say a mid-twenties PE on flat operating earnings on the S&P is certainly justified... NOT! I don't even think we need our textbooks to figure that one out. Perhaps the rest of Wall Street does though. Bob