Ghost of Igloi wrote:
wondering wrote:
I didn’t say it wasn’t overvalued. I said the current valuation is below the 5-year average. In other words, valuations are relatively low. Why isn’t that good?
OK, I guess you have a point when you move from 66% overvalued to 65%. Other than that, I don’t see it. But that’s alright. Obviously most people believe things are just fine.
Why wouldn’t they believe that? Valuations have been high for years, yet we just had 10 years of bull market. Clearly high valuations haven’t had the effect you believed they would.