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Technology Stocks : Brightpoint - CELL -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (711)	8/6/1998 11:12:00 AM
From: mauser96	Read Replies (1) \| Respond to of 1999

The WSJ today had a few more points about the discounted value of the E in the P/E ratio. The real value of the E is increased when there are reductions in personal income tax , inheritance tax,, or capital gains tax rates. The value of E is also increased when it can be held in a tax deferred or tax free account. Many of the above factors were different in the past. In general there are more tax deferred plans today, and tax rates are lower. Coupled with my previous post, you can see that there are some real reasons to think a higher P/E is sustainable today. No guaranties of course.