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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (11339)	4/18/1999 10:28:00 AM
From: j g cordes	Read Replies (1) \| Respond to of 99985

Perhaps the question of the age is whether the pace of information and markets has created a different reality of valuations and price behavior which significantly breaks with the past. I'd agree that relationships of speculation are much as they've ever been, but comparing trading yaks in 3000BC to trading derivatives oversimplifies things a bit. <g> Its possible there is a solid relationship between the rate of technology turnover (innovation X's growth), and sustainable market valuation. When and if the pace of innovation and replacement slows then multiples will tumble and norm... not until then. Jim