SZ

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Thu Nov 18 11:40:59 PST 1999



> ... and the Incredible Expanding P/E Ratio ...

Something I haven't quite figured out yet is why there's this big concern about P/E, as though it were some Law Of Physics. Yes, in the long run, P/Es have been lower than they are today. But also in the long run, every index we've come up with have been lower than they are today.

Who says P/E has this magical property of having a historical anchor?

/jordan



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