A Cyclical Look at P/E Ratios

A Cyclical Look at P/E Ratios | The Big Picture:
By Barry Ritholtz - February 16th, 2009, 8:31AM
Rather than rely on Wall Street Analysts who are chock full of the conflicts, and seem structurally incapable of catching major economic turns, let’s revisit a long term look at P/E ratios, via historical cycles.