On yesterdays Business Sunday they interviewed two so called experts. One of the things they said was that the Australian response to Fridays 5% drop on the DOW would be muted. They were right on this. The other thing that they said was that in the US and here people are looking at lot more carefully at PE ratios. PE's in the US are still far too high while in Australia they are much more reasonable (< 20) with the exception of a few standouts. So far I think they are correct.
