@siameseparrot I agree with domino pizza's P/E ratio...read a...

@siameseparrot

I agree with domino pizza's P/E ratio...read a amazing article from the Wall Street Journal which pointed this out.

‘Selfie’ Shtick Focuses on Dividends

Extract

The worry for some old-school investors is that the market is now trading at its most expensive level outside the late-1990s tech bubble, with valuations running at more than 16 times forecast company earnings in Australian dollar terms, compared with a long-term average of around 14 times, according to Citigroup Inc.

Throngs of usually humdrum stocks such as cheese makers, travel agencies and paint producers have seen valuations surge even more dramatically. Domino’s Pizza Enterprises Ltd. , for instance, now trades at nearly 58 times the prior year’s earnings. Facebook Inc., by contrast, trades at 59 times past earnings, and tech giant Google at about 28 times.

“The Australian share market looks expensive relative to history” said Steve Miller, a strategist at the BlackRock Investment Institute in Sydney. “That should make you cautious.”

http://www.wsj.com/articles/selfie-shtick-focuses-on-dividends-1425520718