The sooner we disabuse ourselves that we are going to find magical valuation metrics to predict the future with, the better off we'll be. Michael Kitz subsequently wrote a couple articles around 2014 or 2015, kind of debunking this methodology and showing that it had very little usefulness. Looking at the markets last week, it appears the largely manufactured debt-sailing crisis is now over; all the politicians are patting themselves on various body parts. Tina, you fat lard, come get some dinner!