Irrational Pessimism?

While the Dow is flirting with a new all-time high, the S&P 500 is still about 12% below its all-time. But what about earnings?
No wonder private equity is booming! Profits are up 57% since the market’s peak in March 2000. The market’s P/E ratio has nearly been cut in half.

Posted by on September 27th, 2006 at 3:04 pm

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