So these are not "apples to apples" PEs and the October PE was really much higher than 15 on the DOW if you compared it to the way PEs were calculated back in 1982. Sure there have always been games but PEs in this market are still in the stratosphere.
Whoever posted the Proforma, GAAP, and CORE PE chart a couple of days ago I bet would have PEs far higher than 15 in October of 2002. Please post again if possible.
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