[PEN-L:11561] Re: time to sell...

[Louis Proyect <lnp3@xxxxxxxxxxxx>]

Yeah, I just printed this out and am looking forward to reading it. The
problem, it seems to me, is that people have been saying this for years
now. Barron's almost every week makes the same point. The discrepancy
between dividend yields and price-earnings ratio is greater than they've
ever been. Meanwhile the bubble keeps inflating. Not that I'm expecting
stock tips from PEN-L, but what the fugg is going on here...?

Louis P.



At 10:26 AM 7/31/97 -0700, you wrote:
>when SLATE magazine's Michael Kinsley asks >>How can everybody be 40
>percent richer when the economy's grown by only 4 percent? << in his
>article "The Stock Market       Chicken-Counting Orgy," it's time to sell
>the stock market short. Reality is beginning to sink in with the
>punditocracy.
>
>Check it out at: http://www.slate.com/HeyWait/97-07-18/HeyWait.asp
>
>Of course, who has the money to afford selling short? Not I. (I'll have to
>check out TIAA-CREF to see if there's an irresponsible speculation fund.)
>
>
>
>in pen-l solidarity,
>
>Jim Devine   jdevine@xxxxxxxxxxxxxxx
>Econ. Dept., Loyola Marymount Univ.
>7900 Loyola Blvd., Los Angeles, CA 90045-8410 USA
>310/338-2948 (daytime, during workweek); FAX: 310/338-1950
>"It takes a busload of faith to get by." -- Lou Reed.
>
>