Stocks Are 80% Overvalued In The Third Biggest Bubble In History?
This is a nice article. But, this is not the third biggest bubble. It is the largest bubble by far. I have noted on here in the past that traditional measurements do not capture the scale of horror that defines asset prices. PE, Tobin’s Q, market value to GDP, Multi-year PEs made famous by Shiller, any intrinsic value measurement like book value, cash flow, enterprise value to free cash flow, etc do not capture the scale of this bubble. This bubble is so massive that it defines everything we believe economically and has defined our reality for all but the oldest people in this world. Obviously, I will be talking more specifically about this. But as noted on here for the last half dozen years my downside target for the S&P is 200-450. That is, if the stock market survives.
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