Who are these "insiders"? Everyone can see a publicly traded company's price to earnings and many other metrics with a simple search.

I don't follow. What stock are you talking about? Are you averaging all available P/E ratios across various stock markets?

I understand a lower P/E means you are generally getting a better value when purchasing a stock but that is by no means the only metric to use and it is not necessarily a predictor of how a stock (or market) will perform.

You are thinking in the short term. That is not how most successful investors go about investing and governments punish this short term investing strategy with higher taxes. It does not take a genius to be successful investing in the stock market. The customers of these experts are usually the one to blame for taking on losses and you haven't made any losses or gains until you have sold; they lose their nerve and sell too late and buy back in when things have already recovered. Late to sell and late to buy. The smart investor uses dollar cost averaging by holding stocks in solid companies and continue to buy when the stock market is dropping. The experts cannot stop stupid people from being stupid, if an idiot ignores their advice and says to sell they must sell.

When the clueless see gloom and doom at a sudden market drop I have regret that I'm not working, unable to throw more money at my investments. People have been crying armageddon and market collapse every since the market was a thing. This little virus that kills much less than 1% of people it infects is not going to collapse the markets. The pandemic will end and those that have continued to invest intelligently will profit immensely.