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

To: Mike M2 who wrote (55902)	4/13/1999 6:27:00 PM
From: Knighty Tin	Respond to of 132070

Mike, Don't you hate it when they reorganize. The peaks and valley bit is one of the things that make apologists for this mania such idiots. Yes, average pe ratios are something like 15 times. But high ratios usually come when eps are in the toilet and stocks are down. These record pe ratios have half of it right, eps are in the toilet. <g>

To: Mike M2 who wrote (55902)	4/13/1999 7:43:00 PM
From: Freedom Fighter	Respond to of 132070

Mike, >>I tried to find an article by William R. Emmons of the St. Louis Fed " The Current PE Ratio: Higher than You Think" he makes the point that the current PE is at an unprecedented high for peak earnings. He points out that earnings declined 30% during the 89-91 recession . The New ERA folks don't worry about recessions because the fed has tamed the business cycle. -g- The site has been reorganized and i can't link Emmons name yet.<< I wrote something about normalized earnings a while back. A link to the report you are looking for is present at the bottom of my report. I agree with it strongly. members.aol.com Wayne