Many unreliable Valuation measures are still being used by analysts, says Pimco's Bill Gross
Many of the suspect valuation measures propagated at the height of the bull market continue to be used to paint an unrealistically bullish picture for 2003, Bill Gross, managing director of Pimco, has claimed. Gross, the leading investor at Dresdner RCM's sister group and manager of the Dresdner retail bond funds, said: 'Despite the introduction of a new, commonsensical earnings measure by Standard & Poor's, called Core Earnings, many analysts go their own way in promoting permutations. 'Nearly unanimous commentary focuses on how the S&P 500 companies will earn more than $50 per share i...
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