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To: moonsparks who wrote (36370)	4/26/1999 10:59:00 PM
From: Copeland	Respond to of 86076

P/E's don't mean much any more because the individuals that used to adhere to such mechanisms of value no longer are the major driving forces in this market. Unfortunately, the common man, the soccer mom, and the daytrader are. They don't know anything about P/Es and they don't really care. If you want to find someone to blame, blame Peter Lynch. Not to say that things will change. They won't until something really bad happens to spook this market or unless the forces of old Wall Street conspire together to bring the Internet stocks down -- highly unlikely, not withstanding the conspiratorial bent, considering that many big name firms are now heavily invested in such firms.