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To: Terry Whitman who wrote (36468)	4/27/1999 9:18:00 AM
From: John Pitera	Respond to of 86076

good article, Prosperity is almost certain to continue," opined Business Week. Fortune chimed in, "It's hard to imagine a combination of circumstances that would entirely undo the good work of the past few years, which halved the inflation rate." Analyst Robert Wade said, "Disney typifies what a growth stock should be. It has a unique image and franchise. It makes people happy." These words were written in December 1972 on the eve of a 20-month, 44% smash in the Dow. They could just as easily have been written today. In 1972 the S&P 500's P/E was a piddling 18.4 vs. 36 now.