Kai Ryssdal
A huge chunk of the S&P gains of late have come because of the hundreds of billions that are being invested in Artificial Intelligence. So, bearing in mind that the average p/e ratio on the S&P right now is 25, price to earnings ratio, what does that tell us?Michelle Lowry
People have very optimistic expectations of how fast these AI companies are going to grow, into the future.John Steinsson
There are kind of two episodes in the past where the price to earnings ration has shot up to really high levels. One was right before the great depression. One was in the late 1990’s, during the internet bubble.
What’s a price-earnings ratio anyway?
Kai explains the P/E ratio of the S&P 500, which is higher that it’s been since the early 2000s.
Marketplace – Nov 12, 2025
Note – transcription approximate, done by hand, not ai.