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

To: Teri Skogerboe who wrote (23616)	8/30/1998 7:58:00 PM
From: Proud_Infidel	Read Replies (2) \| Respond to of 70976

Teri, Re:S&P has a PE of 30. Where did you get this? It's currently at about 21. Still high historically but "only" 33% from your number. BK

To: Teri Skogerboe who wrote (23616)	8/30/1998 8:14:00 PM
From: Gary Burton	Respond to of 70976

Teri--the problem with Joe the Bull and AJC are that they are permabulls, exactly the wrong type to listen to IF the market has changed its spots to a Primary Bear. As anyone with some experience with bear markets knows, they START materially before most of the bulls even are able to recognize it. So the fact that Joe and AJC are bullish at this time means Zero to me. No predictive power at all. ----Better to listen to gurus who are able to switch back and forth between bullish and bearish. For eg Don Hays or the fellow who runs Templeton now. Brokerage house sell side types should be taken with a grain of salt.