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To: Berney who wrote (4732)	11/27/1998 5:30:00 PM
From: Investor2	Read Replies (1) \| Respond to of 11051

Re: "So, its selling a premium of 50% to its historical PE ratio and about 2.5 times its projected growth rate. It represents absolute insanity IMHO." I don't know why the market is selling for such high PE ratios but I doubt that it is because of insanity. More likely, there are numerous difficult-to-recognize factors that increase the demand for companies that have or will soundly beat their competitors. Perhaps these factors include excessive levels of greed and affluence. But I doubt that stock prices are so high because we (investors as a group)are all insane. Best wishes, I2