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May 12 2017

P/E Ratios and Forward Returns: An Update

  • May 12, 2017

While it’s not currently the most inflated measure among our Intrinsic Value readings, the S&P 500 P/E on 5-Year Normalized EPS has nonetheless just moved into its tenth historical decile. The latest reading of 23.6x ranks in the 93rd percentile of all observations dating back to 1926.  


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About The Author

Doug Ramsey / Chief Investment Officer & Portfolio Manager