"You can gauge just how pricey a stock is by looking at its price-to-book ratio," "Since 2010 the Russell 1000 value index, which tracks American stocks with l

"You can gauge just how pricey a stock is by looking at its price-to-book ratio," "Since 2010 the Russell 1000 value index, which tracks American stocks with low price-to-book ratios and low expected earnings growth, has risen by just 87%, compared with 171% for the market overall." This reminds me of what Blow-up artist Niederhoffer told me before his second blow up: Price-Earnings ratios have no meaning for long term stock performance :-)