We haven’t done this for some time and now that we hit a high in the US market, it looks like we are staring at a move down 50%.

Lets take a look at some data to systematically evaluate this.

A new secular trend?

US PE Ratio

So here is a strange one. By right we should be ready to be down  50-60%.  The interesting part is PE is going down.

Singapore PE ratio

I always said that forward earnings are the important factor. Don’t just look at PE as a ratio. Although we seem to be at a high, historical PE is at reasonable point at 14.6 times.

If earnings weaken and price goes on a good run we could see PE climbing.

Last quarter’s company results isn’t very strong.  An irrational price run can occur here too.

EPS trends

This cycle is interest in that ...