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Are current P/Es on large cap indices and stocks justified (6/07)?

April 26, 2017cap es indices large stocks

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Are current P/Es on large cap indices and stocks justified (6/07)?

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(The answer is contained in a 1 minute 44 second Windows Media* streaming video of the Research Department’s Q&A panel at Century Management’s June 2, 2007 Austin, Texas Client Review.)