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To: mrknowitall who wrote (66747)	9/22/1998 10:25:00 PM
From: Chuzzlewit	Respond to of 176387

Mr. K., I think the S&P500, like any other index, is not really representative of business. In the case of the S&P we are looking exclusively at large cap stocks. Yes, it's broader-based than the Dow (which isn't saying all that much), but it excludes the vast bulk of listed companies -- better than 6,000. Nevertheless, it along with the Value-line index, is one of the very few non-specialized, cross-market indices around. If you compare valuations based on earnings you get a totally different perspective with the Russell 2000. TTFN, CTC