Interesting points. I have always wondered if the P/E ratios...

Interesting points.

I have always wondered if the P/E ratios mean much anymore. Why do we compare the current P/E against historical average P/E's when we have long term bond rates at zero or negative - is that normal??

People are happy buying Tech stocks at P/E's through the roof. There is no alternative to make a return anywhere.

brrrrrrrrr - more money printing reducing the value of your cash. Its a difficult proposition as you may find your capital gets destroyed when reality bites? Maybe those negative rates or zero are much better??