S&P 500 earnings for the fourth quarter are finishing up much lower than they looked just a few weeks ago. Bob Bronson:
S&P further estimates that the current $27.69 will drop to $14.15 in 3Q ‘09, which will be a 83% collapse from their high nine quarters earlier.
With the S&P 500 index at 827, the stock market’s current P/E ratio is currently 30 and an incredible 58 based on earnings three quarters from now!
