Midpack
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Another POV to consider...
P/E Doesn't Predict
P/E Doesn't Predict
Some people say today’s price-to-earnings ratio (P/E) is a sign of overvaluation. Others say it’s a sign of improved earnings growth in the future. In my view, it’s neither. The current valuation of the stock market doesn’t tell us anything about the future of corporate earnings.
The market’s P/E is considered an important valuation indicator. People use it to predict all kinds of things about the future. It’s used to determine if the stock market is pricey or cheap; it’s used to compare the attractiveness of different stock markets around the globe; and it’s used to make bold predictions by market gurus, who are then showered with gobs of media attention.