This is the 3rd installment of posts titled "Many Faces of PE". The previous two posts are: Growth Shiller PE It is important to bear in mind that PE can bear so many different faces bcos we look at just next yr's PE. This is a practice that the whole financial industry agreed on some time back even though it totally made no sense for investors. But it does help generate lots of trades and commissions though. So when we just look at next yr's PE, peer comparsion and quality also comes into play. 4. Peer Comparison and Quality Usually one would determine whether the stock is cheap vs its peers in the same industry. So when looking the PE of Singtel, we also look at Starhub and M1. The industry average PE would determine where some of these individual stocks should trade at. Of course, in reality, this made ...