Are Stock Prices Linked To Earnings?

Surprisngly, belying conventional wisdom, the link is too tenuous, points out Debashis Basu

It is the most commonly used tool in the market. And often it is useless. If there is any consensus about investing tools in the stock market, it is two magical letters PE. From the most informed fund manager to the uninformed investor to the finance professor and the polished TV anchor, everybody seems...

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