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To: TPN35 who wrote (7833)10/7/1998 10:10:00 PM
From: John F. Dowd  Respond to of 10227
 
TPN35: Agree with most of what you have said in fact all except AG can at least catch up with reality and take the kink out of the yield curve. He is still fighting the last war. Inflation is not going to come roaring back because we put short trm rates where the market says they ought to be. Inflation is not an issue.

Alan wrings his hands over valuations but when your real interst rat or discount factor is where it is today todays PE's are almost cheap.

John


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