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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?


To: Knighty Tin who wrote (59806)5/19/1999 5:33:00 PM
From: BGR  Read Replies (3) | Respond to of 132070
 
Michael,

IMO, S&P500 PE expansion is mostly a result of (1) relatively lower rates that the market has enjoyed for a while, (2) shrinkage in risk premium due to demographical reasons and (3) extraordinary technological advance in the last decade. All three seem poised to continue.

BTW, share buybacks are tax-advantaged dividends.

-BGR.