Why P-E Ratios Are Irrelevant To True Market Leaders

In some ways, the statistical obsessions of investing are similar to those of baseball. The sports media gush over home-run kings, but few people stop to ask how much that big bat truly matters. In 1998, Mark McGwire hit 70 home runs and the St. Louis Cardinals finished in third place in the division. That same summer Sammy Sosa hit 66 home runs. His team finished in second place. Three years later, Barry Bonds hit 73 home runs. His team finished