Free Republic

@PMorici1Stocks zoomed to new highs on reasonably good news for the U.S. economy and the Bank of JapanÂ’s announcement of quantitative easing.Just a few weeks ago markets were plunging, and analysts writing on the nationÂ’s most prestigious financial pages cautioned that stocks were historically overvalued.On October 15, I wrote in the Washington Times: DonÂ’t Panic, Stocks Will Reboundhttp://www.washingtontimes.com/news/2014/oct/15/morici-dont-panic-stocks-will-rebound/The S&P, which accounts for about 80 percent of the publically traded shares in the United States with a price-earnings ratio at 18.68 is still trading below its 25 year average of about 18.90. And estimated earnings for the next 12 months indicate...

S&P Removes "One Click" P/E Gee, what are they trying to hide? As I have repeatedly shown there was has been a "one click" P/E available for the S&P 500 - from S&P - basically forever. Here's one (recent) example. Well that's no longer "easily findable." Indeed, now you have to compute it yourself, although they do make it somewhat easy - if you have Excel. You have to sign up for a (free) account now, and then you can download the spreadsheets with quarterly numbers. So I did. The interesting part of this exercise is that you get annualized...

The WSJ article is more propaganda from the MSM. The S&P web site shows earnings estimated at $29 for 2009 and $37 for 2010. That would be a PE of 34 for 2009 and 27 based upon 2010 earnings. Using a PE of 15, the S&P 500 should be at 435 and at 555 using 2010 earnings versus the current 1000 level. The difference is the WSJ artcile and the CNBC shrills use "core" earnings and exclude "special" losses. Funny, they don't exclude special gains during the boom times. What the companies report to the SEC is all there earnings...

Obama, today: "On the other hand, what you're now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it." Did he mean price-to-earnings ratio? The traditional definition of PE ratio? If Bush had said the above, it would be ipso facto evidence of his idiocy.

April 18, 2006 Bulls Are Running to India, Raising Fears of a Bubble By SARITHA RAI BANGALORE, India, April 17 — Shashibhushana Reddy, a 28-year-old software professional with the local division of the Intel Corporation, has invested a quarter of his earnings in India's equity markets for the last three years. Mainly choosing media, pharmaceutical and manufacturing stocks, he has seen his investments triple as he rides a boom in the country's equity markets. Now Mr. Reddy is preparing to get even more aggressive. "Indian companies are doing extremely well," he said, "and I plan to soon start investing half...