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Rational or Wishful Expectations? - FINANCIAL-24

The Wall Street Journal weekly reports the price earnings (PE) ratio of major indices.  According to the Journal, the trailing PE ratio of the Russell 2000 is negative and it is even worse than the trailing PE ratio of 144 reported a year ago.   The forward PE ratio is, however, at 20. Does this forward estimate reflect rational or wishful expectations? 

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Title : Rational or Wishful Expectations? - FINANCIAL-24
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