Questions about p/e and p/b

So im fairly new to investing and i was wondering how p/e and p/b can be used to determine which stocks to buy.

As far as i have gathered p/e mean price to earnings, where a high p/e indicates that the stocks are being sold for more than the companys actual surplus.

And p/b i think is price to book and is used to determine a stocks price compared to the companys assets and liabilities??

Dont know if its correct, and if not i was hoping someone can correct me and also help me explain how to use these keywords.

Also how can i see a stocks p/e and p/b in real time? Is it only updated quarterly?