No matter how one looks at the price-to-earning ratio, trailing or forward, the U.S stock market seems to be overvalued right now. However, Dr. George Athanassakos argues that the market looks particularly overvalued if one focuses on the trailing P/E in his latest Globe & Mail article titled "Trailing or forward: Which P/E ratio measures better?", published in the Globe and Mail (Report on Business), p. B9. The article also appeared in Globe Investor Magazine Online, under the title "Which P/E ratio measures markets better: trailing or forward? The answer is sure to spook investors right now" on October 6, 2025. View PDF.
