Cisco and the Kids
2001; RELX Group (Netherlands); Linguagem: Inglês
ISSN
1556-5068
Autores Tópico(s)Financial Markets and Investment Strategies
ResumoThe Nasdaq 100 Index is today's reincarnation of the Nifty Fifty. Many of today's institutional favorites feature extraordinary valuations, despite short operating histories, modest revenues, and sparse profits. At the market peak in 1972, Nifty Fifty stocks sold at an average P/E of 37.3 - versus a market multiple of 18.2. At the 2000 peak, the Nasdaq 100 sold at an average P/E multiple roughly six to eight times greater than the highest P/E ever accorded Nifty Fifty stocks. Following a historic stock market correction of more than 70 percent, P/Es for Nasdaq 100 companies remain two to two and a half times higher than peak P/E valuations for the Nifty Fifty.
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