an tSionna {PE Averages-Another Look}

Another look at historical PE averages from Dr. Ed's Blog.  He notes that "the S&P 500 is now only 6.7% below its record high of 1,565 on October 9, 2007.  The S&P 500's forward PE jumped to 13.1 last week the highest since June 2008."

I'm assuming he's referring to four quarter forward PE's because his numbers imply S&P 500 earnings of around $112.

An update on posting.  The events I mentioned yesterday went from horrible to tragic.  Sadly at some point in the next two weeks I will have to be out to attend either a funeral or a memorial service.  As a result posting will be a bit sporadic during that time.  I'll try to put something up the rest of this week if I am not out of the office.  The bigger piece I promised you will likely have to wait until I'm finished with these events.

*Long ETFs related to the S&P 500 in client accounts.