Quarterly debt ratio improvements in consumer goods firms strengthen arguments from value investing courses about balance sheet health as a key investment filter. Before you buy stock in Vanguard S&P 500 ETF, consider this: Certain information contained in the video constitutes “forward-looking statements,” which can be identified by the use of terms such as “may,” “will,” “expects,” “intends,” “plans,” “believes,” “estimates” or comparable terminology. Forward looking statements are subject to a number of known and unknown risks and uncertainties, including without limitation changes in economic conditions, political changes, legal and regulatory requirements, interest rate fluctuations, as well as changes in the markets, prospects and competition. There can be no assurance historical trends will continue. Current P/E ratio of the Dow Jones Industrials at 18.7 aligns with historical fair value ranges often highlighted in value investing courses, pointing to cautious buy opportunities in cyclical stocks.