Say now PE is too high coz it was based on past low earnings, investor should look into future, which mean UWC future PE will their earnings break new high or not? Say US indexes break new high its going to explode is the same mistake, because u think new high = collapse soon from old data? But new high sometime go higher. Investor shouldn't predict trend merely by past data alone...Im not saying it will go up, but no one know whats going to happen. Just place ur bet on ur deepest analysis.