bear market has become predictable, page-13

dot com valuations were not based on earnings.
They got so overheated the "wall street" smaties decided that earnings was an invalid indicator for a tech stock.
Instead projected revenue generation was to be the valution medium.

So event though these sacks of junk were creating revenue most actually never turned a profit.
The valuation was based on that revenue or projected revnue with a new listing.

yee haww easy money listing tech stock junk.

The PE indicated the stocks were horrendisly overvalued - and nothing short of a minor miracle would see them ever acheive those projections in earnign due to share price.

Way overcooked.

When the company in understood and its financials and true earning I find PE's relevant.