Labels:crt screen | hakham | monitor | reckoner OCR: The Jow goes ild To conservative investors who worry that stocks are overvalued when they sport price) Tearmings ratios above 20 the Dow industrials' 57.9 P/E looks lethal However that P/Eis based on the 30 industrials past 12 months earnings and being inflated Tby nine stocks that posted losses and balance-sheet write-affs ofnearly $10 billian. Even so the stock market looks overpriced. Accor ding to Michael 'Higgins Latham N.Y mone man- ager the Dow's P/E based on average annual earnings over three years has ranged from 7 in 1974 to 24 right hefore the 1987 crash. that measure the MOO cur- rently stands sataprice 21 Big stocks VS small 3150 3000 200 2850 2700 2550 170 DOw industrial Russell 2000 inder wild renth pricey21
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