Time to watch your Ps and Es.

Reports on the importance of the price/earning ratio (p/e) to businesses figuring out the value of their stocks. Price of Telstra stocks as of February 22, 1999; How Deutsche Bank plots the forecast market p/e for leading industrial stocks; Other values to take into account when determining p/e such as economic value analysis (EVA) and the discounted-cashflow (DCF); Comments from Robert Credaro, an investment strategist with Macquarie Equities.