Ticker Sense has a nice set of charts showing price-earnings ratios across several different countries. Lots of other interesting investment related information as well. (Hat tip to Ralph Shaw, who really ought to have a blog).
Looking at the charts makes me more comfortable owning stocks, but a big word of caution about PE ratios: sometimes when they are high, they fall because E rises, without any decline in P. At other times, PE ratios rise becasue E falls to heck. Still, lower is better from a prospective viewpoint.
Comments