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    #1

    build their case on

    Dear all,

    How should I understand the underlined?

    Does it mean "most bullish equity market are supported by a good price-earning ratio"?

    Thanks in advance.

    Eartha

    Most stockmarket bulls build their case on the trailing price-earning ratio for the S&P 500, which stands at 16.

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    #2

    Re: build their case on

    The "trailing price-earning ratio" is the foundation upon which the "bulls" build their argument. (Bulls are positioned to take advantage of a rising market.)

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    #3

    Re: build their case on

    "to build your case on something" means that it is the main foundation of your argument, project etc.
    e.g. The defence lawyer built his case around the fact that the prosecution witness had poor eyesight, i.e. this was his main argument

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