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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (43146)	1/13/1999 9:48:00 AM
From: accountclosed	Read Replies (1) \| Respond to of 132070

who has some quotes for our entertainment? pos's and inut's

To: Skeeter Bug who wrote (43146)	1/13/1999 9:52:00 AM
From: The Perfect Hedge	Read Replies (2) \| Respond to of 132070

There's an analyst on CNBC that's saying we should be buying right now......He says buy the semi's...great earnings coming.... I'm putting in my order in for NVLS right now!ggggg B*

To: Skeeter Bug who wrote (43146)	1/13/1999 10:09:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Skeeter, it sounds aggressive but it really is not in the context of a highly leveraged bubble economy. ( my whisper number is lower -g-) . A few points : record high PEs on the lowest quality earnings (IMO)in accounting history. accounting gimmicks such as esops, recurring nonrecurring write offs, acquisitions and more. Earnings have also benefited from a decline in interest expense -the big decline is over. when Andrew Smithers did his study on the effect of esop accounting the PE on S&P was 28 for reported earnings but if esops were expensed on the income statement the PE would be 35 . extrapolating these # the current peak PE for S&P is 33.4 then esop expensed PE would be 41.75 . Remember this reflect only one aggressive or misleading accounting is accounting technique albeit the most significant. who knows what the impact is when all the other " techniques' are factored in . fer reference PE on S&P in early 80's was SEVEN -thats room fer much tough love. hohoho Also considered that consumption as a % of GDP is at