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Friday, February 6, 2009
Midday Factoid: Market About to Hit 22x Forward P/E
The S&P will likely hit 880 today. Based on a conservative 2009 S&P earnings projection of 40, this implies a 22x forward multiple, which is a realistic 80% premium to the past 130 years' historical average of 12x. If only the economy could now just jump right to 2017 when the depression is hopefully over and the mutiple has some sort of vaguely remote credibility.
Just saying. Sphere: Related Content
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Just saying. Sphere: Related Content
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4 comments:
You are saying right.
Three months ago, pundits were gassing that up to 2 million jobs might be lost in 2008. Nope. Try 3.5 million. 600,000 lost in January and accelerating. Employment lags GDP, so Q1 figures will be a bit shocking.
Perfect time for a rally!
just as reasonable as stocks up while the bond down on the same issuer.
This rally is one of the dumbest things I've ever seen.
+1
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