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To: Pruguy who wrote (41435)12/28/1998 10:43:00 AM
From: Kenya AA  Read Replies (1) | Respond to of 97611
 
Pruguy: Why? Why are P/Es important? Why should I base what I buy or sell on P/E? Independent studies by both O'Neill and O'Shaughnessey going back over 40 years show that P/E are irrelevant in determining stock price movement. As for "irrational exuberance", I think that the market is the epitome of rationality - everything sells for about what it's worth at the time. I would rather make money than be right about fundamentals.

K