Using the Enemy's Strength Against Me

You want to look at how the market's being valued. Is the p e ratio high relative to history, or low? And is the p e ratio on the investment or considering high relative most of the others, or low? This is very influential. It tells you something about how things are being valued. These are the circumstances that would make you leary. But we want to be a little bit counter and when the other person is attacking us with optimism, we want to parry with cold hearted realism and so forth. I was a boy of 15, so that means 60 years ago, they used to talk about using the enemy's strength against him. The enemy rushes at you