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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (558)	11/9/1998 1:02:00 PM
From: Robert Douglas	Read Replies (1) \| Respond to of 4690

Peter, I seem to be following you around lately. Don't report me for stalking! I think sometimes you will see earnings and the P/Es associated with those earnings reported a few different ways. Some services calculate total earnings, including writeoffs, like S&P does. Others use only operating earnings, which usually exclude writeoffs. Comparing earnings from two different sources is akin to comparing apples to oranges. I don't know if this is what is happening here, but I would investigate it. Most analysts I have read are not predicting much of a gain in S&P 500 earnings for 1999. -Robert