Wed April 13, 2011
Take a look at this article which uses a Shiller trailing p/e.
We are studying price earnings ratios in Intemed II now. This article suggests as I have been suggesting, that we are at another historic top in market prices.
The price earnings ratio tells us how many dollars one is wiling to pay for one dollar of earnings of a company. The higher the ratio the higher the expectation for the company.
Professor Elam 
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