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<p>[QUOTE=&quot;mikem2000, post: 2221000, member: 30574&quot;]80%?????&nbsp;&nbsp; Not even close, P/E looking forward is around 17 for the S&amp;P .&nbsp; The last 15 years it has averaged about 16, and historical average (which includes, recessions, bear markets etc.) is around 13.&nbsp; We are just not that extended.&nbsp; When you consider the 0% interest rate and improving conditions in US, the 17 multiple might even be justified, if not,&nbsp; slightly overvalued at best.&nbsp; Also, companies have a buttload of cash on hand, which can further justify the rich valuation.</p><p>&nbsp;</p><p>EDIT: Oh by the way, the data is a few day old so we very well be trading at a low 16 or even high 15 multiple after the correction.</p><p>&nbsp;</p><p>&nbsp;</p><p>[ATTACH=full]435175[/ATTACH]</p><p>Mike[/QUOTE]</p><p><br /></p>

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