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@user116219
Sorry you are right I misrepresented that, 38 is the current Shiller PE ratio which smooths out price and earnings over the 10 year period in question and is not the usual 1 year PE ratio.
This site shows 2 charts comparing the PE ratio and Shiller PE ratio over the last hundred years or so
https://www.longtermtrends.net/sp500-price-earnings-shiller-pe-ratio/