Wall St. Down Under

Price-to-Earnings (P/E) Ratio: Basic Valuation Metrics

Diversification decides the weights. Order types decide the fill. The P/E ratio asks whether the price you just paid is justified by the earnings the company is actually producing. It is a ratio, not a verdict.

Editorial: The Proxy is Empty. The Musk Arbitrage Just Got Cheaper.

The 19 October proxy is empty of any SpaceX merger vote. The AGM on 3 December is defensive. For unhedged Australian holders the structural discount remains: if Musk unifies the empire, TSLA is still the cheaper entry than SPCX.

AI Picks and Shovels (Arc 3: Keeping it Alive): Constellation Energy (NASDAQ: CEG) — The Power Plant

Cooling only matters if there’s power to cool. Constellation runs the largest US nuclear fleet and is signing 20-year contracts with the same labs that buy the racks. The Three Mile Island restart is the public version of a private baseload problem.