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Radio personality and budding entrepreneur Angela Yee describes her youth in the New York City hip hop scene, her first radio job at Shade 45 and how she played a central role in bringing together some of the biggest names in music. In this episode, hear how Yee introduced Jay Electronica to Jay Z, why she decided to book Eminem for one of his first shows, and how she's expanded her empire to include real estate and a new coffee venture.
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Although the Nasdaq Composite Index has dropped about 30% since it peaked in November, it hasn’t reached the bargain bin.
The Nasdaq’s forward price-earnings ratio is just back to its historical average.
Photographer: Michael Nagle/Bloomberg
It has been a rough few months for US stocks but even rougher for shares of technology companies. The widely followed and tech-heavy Nasdaq Composite Index is down about 30% since it peaked in November. Investors may be wondering whether tech stocks are a bargain. The answer is no: They’re a lot cheaper but not cheap yet.
One way to measure tech’s decline is to track how much valuations have contracted. The Nasdaq’s forward price-earnings ratio — that is, the P/E ratio based on analysts’ earnings estimates for the current fiscal year — has tumbled to 24 from 42 at the end of 2020, a 43% haircut. While that’s a big move, it merely brings the Nasdaq in line with its historical average P/E ratio back to 2001, the longest period for which numbers are available.