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To: witurac who wrote (4628)	4/22/1999 8:10:00 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

You are correct. LU has a trailing PE of 100 with projected forward growth of 20%. On January 1 the price was about 56 and now it is 59. Put simply, I don't have the "old" leading tech companies because their growth is flattening out, making it harder and harder to live up to these enormous PE's. The Internuts mostly don't have earnings yet but their revenue growth is stupendous. MSFT and CSCO are up about 13% for the year while INTC and LU are flat. MSGI is up more than 700%, CMGI 300%, RNWK 400% and VRIO 200%. They call it momentum investing.