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

To: Mama Bear who wrote (53640)	3/27/1999 11:36:00 AM
From: Mike M2	Read Replies (3) \| Respond to of 132070

Barb, momentum works until it doesn't if a PE of 100 on Nasdaq 100 doesn't concern investors a PE of 150 won't either. Many investors have linear expectations in a nonlinear world. The bigger the boom the bigger the bust- the magnitude of the decline is roughly proportional to the excesses during the boom although I am not suggesting that one can predict the downside with much accuracy. I do expect it to be a devastating experience and most will be shocked by the decline once it takes hold. I expect it to be drawn out because it will take a while to convinve the public that the market doesn't always bounce back in a few months. Mike