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FYI: As of June 30, according to S&P Dow Jones Indices, the stocks in the S&P 500 index traded at a price/earnings ratio of 23.56 — meaning that their combined price was almost 24 times the net earnings all those companies had generated over the past year. Regards, Ted http://jasonzweig.com/when-cheaper-pe-ratios-mean-nothing/
