But don’t even think about partying like it’s 1999. To play it safe, seek companies whose earnings grow roughly at the same rate as the figure that is their price-earnings ratio. So if a company’s share price is 19 times its earnings, its earnings should be growing at roughly 19 percent a year. “The ecstasy associated with making a lot of money in these stocks hasn’t completely died,” says Kessler. But watching those prices is one way to make sure you avoid the agony that could follow.
