Great breakdown from Mish.
Earnings Estimates for the S&P 500 for 2008
March 2007 $92
December 2007 $84
February 2008 $71.20
June 1, 2008 $68.93
July 25, 2008 $72.01
September 30, 2008 $60
October 15, 2008 $54.82
January 2, 2009 $48.05
Earnings Estimates for the S&P 500 for 2009
March 20,2008 $81.52
April 9, 2008 $72.60
June 25, 2008 $70.13
August 29, 2008 $64.66
September 10, 2008 $58.87
October 14, 2008 $48.52
January 2, 2009 $42.26
On December 15th, 2007 the S&P closed at 1515.96. The S&P estimates were $84, returning a forward PE of 18.04.
On January 2, 2009 the S&P closed at 931.80, which was its' highest close since November 5th, 2007. The S&P estimates were $42.26, returning a forward PE of 22.05.
Last Friday's close of 890.35 returns a forward PE of 21.06.
Any questions? klik
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