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2min chapter
We Have Lost All Sense of Decorum
The Compound and Friends
The Overvaluation of Stocks
There's not a lot of things that you could say about valuation that's like conclusive. What you can say is trading, buying something from more than 40 times sales, which Nvidia is at, is generally a very bad idea. Like Cisco from 2000 to whatever 2010, it grew at like 20% a year, the business, but it doesn't matter because the market was pricing in like 35% growth. And when you fall short of that, you get destroyed.
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