Cash, Debt and PE Ratios: Cash is an upper and debt is a downer!

In my last post, I looked at the leavening effect that large cash balances have on PE ratios, especially in a low-interest rate environment....

The Value and Pricing of Cash: Why low interest rates & large cash balances skew PE ratios

For an asset that should be easy to value and analyze, cash has been in the news a lot in the last few months, both when it has been returne...