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This Article Support My Contention That PE Ratio Of The SP500 Is Not As Useful As The PE Of A Stock

|Includes: SPDR S&P 500 Trust ETF (SPY)

This linked writer expesses it very well, that the long term average of the index PE ratio is not meaningful. I agree, that price is my consideration when trading indexes and PE and other valuation measures are more useful for stocks.

[source Yahoo, Bloomberg]

Disclosure: I am/we are long SPY.