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To: Snowshoe who wrote (28485)	8/27/1998 5:23:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 95453

Greg, IMO this sector has creashed so hard that it blew right through reasonable valuations. Interesting note that most of the market has been up in the ether by historical valuations for so long that they now seem normal. Normal over the last 100 years might be closer to 10pe than 30pe...something to consider.

To: Snowshoe who wrote (28485)	8/27/1998 5:32:00 PM
From: Don Westermeyer	Read Replies (1) \| Respond to of 95453

Note: I'm not sure any sector is safe right now. Got to agree there. Several people thought I was nuts cashing stocks for bonds last spring - turned out to be a pretty good move. I only have a very small position in the sector. I've had several big shorts in other stocks - I should have picked this sector for that I guess. It's not like any of this emerging markets thing should have been a big surprise either - those warnings have been there for well over a year. Earnings for most companies were slowing even before Asia collapsed anyway (except those with 'aggressive' accounting practices). Don