These seem like high P/E's the S&P in general seems like its trading at 17-18 p/e. Does not seem like too much of a bargain. am I seeing something wrong, the banking stocks seem like they are particiularly trading at some high p/e's WFC 33x P/E BAC 13.8 p/e AXP 12.7 p/e
The government has created manipulated earnings. Look at their forward P/E ratios. They are much lower in most cases.
You got to look at forward PEs, the market is betting next year will be great, WFC JPM BAC are all trading at 10-13 forward PE