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To: Alastair McIntosh who wrote (34753)4/19/1999 9:01:00 PM
From: Lucretius  Respond to of 86076
 
as I think interst rates are headed higher... everybody's model is going to show overvaluation by about 60%+ one morning when the bond crashes. imagine what a 7% long bond would do to this lump of lard we call a stock mkt.

typiclaly, SPX has traded at around 15x earnings on average.

do the math -g-