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The market is up .. to new highs on the large caps .. but even so, the
multiples are reasonable. No one would argue that 15X earnings is a
reasonable price for equities. In 2000, the tech stocks were at
100's X multiples or even in triple digits with no earnings and no
prospects for earnings. It was insane. This is why the NASDAQ
is still down 60% from those highs. As long as earnings continue to
grow allowing the share prices to grow with them all while holding into
the "teens" in multiples, I am comfortable being long. If
earnings begin to fade or the market does get ahead of itself and the
multiples rise into the 20's and higher, I'll change my opinion. I
hope you are doing well Ben ..
Bob
At 12:57 PM 10/25/2006 -0400, you wrote:
X-Yahoo-Newman-Property:groups-email-trad
Content-Type: multipart/alternative;
boundary="Boundary_(ID_TvBkUWUSQe30Y6bidObE8A)"
When the stock market is going up and all your
stocks and mutual funds are making money you feel like a genius. It is
too bad that some folks don?t remember what happened in 2000. Of course,
right now we are in one of those genius phases. Your broker and financial
planner are encouraging you to buy, buy, buy. And I can?t fault that at
this time. You remember back in 2000 how many times they told you to buy,
buy, buy while the market was going down, down, down. Are we in another
of those periods now that are leading up to a humongous crash? Hey, I
don?t predict, but I do listen to the voice of the market.
http://hyper-stocks.blogspot.com/2006/09/great-stock-market-secret.html
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