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To: BGR who wrote (116326)4/11/1999 9:09:00 PM
From: Chuzzlewit  Read Replies (1) | Respond to of 176387
 
Yes, I believe there is effectively an overstatement of the P/E. I don't have a list of the S&P500 in front of me, but I would be willing to bet that there are several that have lost money (creating negative P/E) and those losses are included in the aggregate earnings. I can't give you an example off the top of my head -- maybe Compaq? -- but this is a problem with the approach I have been thinking about.

TTFN,
CTC