Stats › Bear markets and drawdowns › Nifty Fifty
The Nifty Fifty cost 41.9 times earnings, the S&P 500 18.9
The group was not uniformly expensive. Philip Morris at 24.0 and Gillette at 24.3 sat alongside Polaroid at 94.8. Source: Siegel, AAII Journal, October 1998.
A group of large US growth stocks in 1972 got treated as a single decision. In December that year they traded at 41.9 times earnings against 18.9 for the S&P 500. Whether buyers overpaid is still disputed in the literature.
41.9xNifty Fifty P/E, Dec 1972
18.9xS&P 500 P/E, same month
94.8xMost expensive, Polaroid
-48.2%S&P 500, 1973 to 1974
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