[shred]

In other words, since the S&P was at 1100 + in March and the "higher" way of calculating P/E was at 36, and it now stands at less than 850, a decline of almost 25%, shouldn't the current "as reported" P/E be about 27? And "operating earnings" p/e is now roughly 17.25.

I think BigCharts and the gold website are going by the older March numbers.

The more up to date numbers one can argue are still overvalued, but with interest rates at 40 year lows, a case can also be made that the market is fairly valued in here and may indeed be getting cheap.

[Always Right]

I think BigCharts and the gold website are going by the older March numbers.

It's good to keep the older numbers for fear-mongering purposes. Gold websites have a tendancy to thrive on fear.