Zeev's Turnips Patch-No Politics (ZEEV)

[Tim Lamb]

Zeev:

When I look in the WSJ it gives the S&P 500 pe @ 20. This is trailing so I assume you and others I hear / read saying 16 - 17 pe are indicating 2005 estimated pe (I heard Brinker on the radio mention 16 pe but page 2 of section 3 of the journal still indicates 20). These estimates have been coming down, no?

Some of the big dow componentes AIG, GM, F, IBM to name 4, have warned in last 3 weeks on current year (actually AIG hasn't warned just indicated they've overstated past years by $1.7B and they made $3B in the 4th quarter so this may be priced in but its breaking $55 was a big break on PnF charts).

I heard (can't verify) the trailing pe in 87 was 21.