26
Median PE rose above 18 …and ahead of 1994
ahead of 1987 crash... market correction...
24
… and in October 1997 ...
Median Trailing PE - FTSE350
22
…and in 2Q 1998...
20 …and in 2Q 2006
18
16
14
12
10
8
Dec-85 Oct-87 Aug-89 Jun-91 Apr-93 Feb-95 Dec-96 Oct-98 Aug-00 Jul-02 May-04 Mar-06
Jan-85 Nov-86 Sep-88 Jul-90 May-92 Mar-94 Jan-96 Nov-97 Sep-99 Jul-01 Jun-03 Apr-05 Feb