The thing about trailing earnings is the presumption that past is prologue. Native Index earnings have been flat for five years, roughly 400 a share, but the multiple expanded from 20 to 29 accounting for most if not all of Santa's gifts enabling the confusion between wealth and intelligence.
Without adjusting the past the Native Index trades at 20x the trail with 15x being another 20 % lower. Insurance, index option premiums, trade at 10x of traditional prices. The opportunity for unencumbered balance sheets to handicap fear abound.
Without adjusting the past the Native Index trades at 20x the trail with 15x being another 20 % lower. Insurance, index option premiums, trade at 10x of traditional prices. The opportunity for unencumbered balance sheets to handicap fear abound.
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