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

To: jim kelley who wrote (53524)	3/26/1999 10:33:00 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Jim, All I have seen is that silly model to note whether the stock market is overpriced, and that is not a CAPM, just a straight comparison of returns. Besides, CAPM means nothing. Most of them are great if you have the right inputs, including the one I sell. Getting the right inputs over a long time span is nearly impossible. Just a 1/2% change in rates over the next 20 years can change a stock from overvalued to undervalued. And a change in growth or perceived risk can do even more. MB