TTBF

Hang Seng: Full Steam Ahead

Great info. Thanks. The one thing I would add, however, is that estimates (for US companies anyway) for next year are still being cut at a breakneck clip. Zacks has the estimate ratio (ratio of earnings estimate increases to decreases) at about .17 right now and still falling. A bit more than 4 estimate increases for every 25 estimate decreases. Ouch.

And this recession could easily last another couple years and get deeper. So the 11.9 figure you mention as the P/E based on next years earnings will likely move much higher in the months ahead. And the year after may see poor results from many companies as well if the recession is long-lasting.