{"product_id":"essential-p-e-book-keith-anderson-9780857190802","title":"The Essential P\/E","description":"The price-earnings ratio, or P\/E, is the most commonly quoted investment statistic, but have you ever considered what it actually means? For most people it's a shorthand way of deciding how highly the market regards a company, with investors prepared to overpay for earnings from a high-P\/E 'glamour' stock as opposed to a low-P\/E 'value' stock. However, academics have known since 1960 that the opposite is true: value stocks outperform glamour stocks consistently over decades.  A company with a low P\/E may have been marked down for no readily apparent reason and thus could represent an attractive value investment for those with the patience to wait while the market re-values it. However, the P\/E is a backward-looking measure and just because the company earned £1 per share last year it doesn't necessarily mean it will earn anything like that in the foreseeable future. Or, a low P\/E can mean a company is deservedly cheap because it is in financial difficulty – in this case the company is likely to become cheaper yet or even go into administration.  This book is a practical guide to how you can adjust and improve the price-earnings ratio and use it, alongside other financial ratios, to run against the crowd and boost your stock returns.","brand":"WoB","offers":[{"title":"GB \/ LIKE_NEW \/ INTERNAL","offer_id":49572748296465,"sku":"GOR013700731","price":18.49,"currency_code":"USD","in_stock":false},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49613467943185,"sku":"GOR004973503","price":13.99,"currency_code":"USD","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51009031176465,"sku":"NIN9780857190802","price":24.49,"currency_code":"USD","in_stock":true},{"title":"GB \/ GOOD \/ INTERNAL","offer_id":53137861968145,"sku":"GOR014768463","price":19.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0857190806.jpg?v=1750704041","url":"https:\/\/www.worldofbooks.com\/products\/essential-p-e-book-keith-anderson-9780857190802","provider":"World of Books ","version":"1.0","type":"link"}