Fundamentals are extremely useful if you know how to read them and have a long term focus. In particular, companies with string fundamentals will weather any large stock market corrections better then most ( either in size of correction or ability to recover ). P/E is also a decent indicator of potential bargains in individual stocks. For example, when AAPL went under a $100 a share a few years back ( and P/E went under 10 ) , or something like Magna International now. One has to ask yourself is the stock cheap for some real reason ( eg slowing fundamentals or losing market share ), or it's been unfairly cheapened. If you don't know how to analyze fundamentals, such as yourself, then sure, it's useless to you. Might as well buy an index or a basket of stocks instead.