1. P/e does not mean much without context. Certainly not what the value of a company should be. 2. Fed helped and did what they are supposed to, which is good

1. P/e does not mean much without context. Certainly not what the value of a company should be. 2. Fed helped and did what they are supposed to, which is good for everyone. 3. Market is forward looking and it should be, otherwise it would be dumb. In other words corona will pass, it is not the end of the world and if stocks went too deep, potential earnings from stocks within 5-10 years down the line would be huge, so anyone looking at that timeframe would be buying at discount. High p/e does not mean things are overvalued. It means whoever buys into market estimates strong future potential. Now knowing that you can start to argue whether they are over or under estimating.