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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: 16yearcycle who wrote (20952)	6/28/1998 4:25:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 70976

OT The big money in this market has been made. One of the largest components of the market gains over the past 25 years has been the multiple expansion on the S & P. It has gone from 7x in 1973-1974 to nearly 24x, an all time historical high! So the only chance for future gains in the market is earnings growth unless we are going to pay higher multiples. If this happens, then we are playing the greater foll game. Earnings growth is going to be about 6% to 8% going forward. All this talk about Dow 10,000 this year seems far fetched.