PEs < 3x there are hundreds out there in Frontier markets, many growing eps at 20% per year plus. Let alone Fossil fuel stocks.
https://twitter.com/benbakhshi/status/1636390996366987268
Remember a < 3x on peak #commodity spots is > 15x on spot lows
Note many think #Coal #Natgas & #oil stocks looked cheap on 2022 low PEs, in fact 65% were expensive.
#coal avg prices will drop by 50-65% over the next 2 years Vs 2022 average.
#natgas avg prices will drop by 50-60% over 2023 Vs 2023 avg.
#oil likely 30%
The market values
#coal avg prices will drop by 50-65% over the next 2 years Vs 2022 average.
#natgas avg prices will drop by 50-60% over 2023 Vs 2023 avg.
#oil likely 30%
The market values
The sp has to be down 95% coupled with the #commodity cycle bottoming for deep value to be available
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