I want help projecting this charts PE ratio numbers to a recent date. 
Here's the chart:
http://crestmontresearch.com/pdfs/Stock%20Matrix%20Tax%20Exempt%20Nominal4%208-5x11.pdf
The 1st column on the far left refers to a pe ratio for the year.  The
data stops at 2003.  I want to figure out 2004, and also 2005 to
within a couple months (the closer the better).  I also want to
understand how to compile this information for myself in the future.

This is a quote from the chart in question:
"S&P500 index & P/E ratio reflect Robert Shiller's series and
methodology of average daily prices annually, including related data"
Robert Schiller was author of 'Irrational exuberance'.

Here's a link that may be helpful.
http://www.irrationalexuberance.com/ie_data.xls
go to the tab at bottom named "stock data".

I've tried messing with the 2003 data from Robert Schiller's site:
I tried averaging 12 months average for sp500 index and got 963.6892
and then averaging earnings in the "earnings column" for 12 months and
got 36.285.  I then divided 963.6892/36.285 for an average pe ratio of
26.55889.  The chart from crestmont claims the pe ratio for the sp500
in 2003 was 24.1.

Can anyone help me get these numbers to make sense.  My ultimate goal
is to obtain a spreadsheet that will help me make a chart for pe
ratios that dates back to 1900 and is fairly current.

Regards,
John

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Clarification of Question by johnjri1-ga on 06 May 2005 18:20 PDT

I am open to open to diferent ideas.  Again all i want is the data
from the last year or two to make this data table current and based on
a pe ratio that I can ubderstand, like "GAAP", or "as-reported".  I am
open to diferent methods to obtain a pe chart dating back to 1900. 
(i'm doing the chart, I just need the data), you can use any data you
want from Robert Schiller, other good sources, or a combination. 
Robert Schillers data is the only source that I'm aware of that goes
back to 1900.  I am however confused by his table here:
http://www.irrationalexuberance.com/ie_data.xls
(click the "stock data" tab at the bottom).  
"Price earnings ratio pe10" <--- I don't know what that means.  Is
that the average for 10 years?   I dont want the 10 year average, I
want each individual years average pe, or a pe based on dec31, or
_____,  I'm easy, as long as I can understand exactly what it is and
it jives with the previous years.  He has for example Dec, 12 as the
last month he recorded for s&p500 earnings.

Dec. 
SP500 is      1199.21
earnings are    58.94
1199.21/58.94 = pe of 20.35  <--- my math

I'm guessing the dividend (which is not included in the table for that
month) are included in that earnings number.

I am totally guessing when I look at Jan '04 earnings at 49.83 and say
that must be projected earnings based on reporting to date?  Does the
Dec '04 number represent the whole year?  If it does then I just need
:

1) to understand what it is based on (GAAP, As Reported or ?). I can
divide all the decembers in column A by there counterpart in column D.
 I don't need you to do that.
2)  I need identicaly defined numbers to within a couple months, ie: 
s&p index and idenitcaly defined earnings as 2004.
 
Again I am open to diferent data from diferent sources, as long as
they fit in together logically.


Thanks for the comment Omnivorous.

---

Clarification of Question by johnjri1-ga on 06 May 2005 18:47 PDT

Value Line 
http://www.valueline.com/vlquotes/quote.cfm?symbol=spx&viewoption=Quote
shows a pe of 19.2119  "As of: 2005/05/06" 

That I can accept as a source that I can easily update!  However does 
1) the method for calculating the pe jive with the method I used to
calcualte 2004 (as reported, GAAP,etc)
2) Is the method I used for calculating 2004's logical and correct?

fwiw, the pe numbers seem close with the current level of the sp500

Johnjr1 --

I haven't looked at the data, but have worked with S&P500 data
extensively in the past.  One of the things that you have to be
careful with (noted in the S&P500 Statistical Analysis published
annually) is that S&P500 data can be used straight -- or adjusted for
dividends.  The Statistical Analysis makes the dividend-adjusted
measure a major footnote.

Best regards,

Omnivorous-GA