make PE unreliable, change the system to using price and
earnings on the same date. The EPS used by investors re-
mains unchanged for a quarter at a time, so why should
PE be any different? By fixing the closing price on the day
the quarter ended and using that to compare to the earn-
ings reported as of the same time, PE becomes a more
valuable tool, enabling you to track progress over a se-
ries of quarters rather than having the analysis distorted
by ever-changing price ranges. This makes PE outdated
as we move further away from the latest earnings; even so,
if we use unreliable information, it does little good to up-
date it.
c. Use earnings adjusted ...