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TIP466: The Bear Has Arrived w/ Jeremy Grantham
We Study Billionaires - The Investor’s Podcast Network
Do You Think the Stocks Are Nearing a Fair Value?
The main companies that survived are all now wildly profitable in some of the best business models the world has ever seen. I'd like to say 80 % of the time the market is pretty sensible and doing a passably good job of estimat value for all the companies. A little an under 15% of the time, it gets carried away with optimism. And by the end of that time having nothing to do with actual earnings. It's all in the head, projecting out hundreds of years into the future, assuming that perfect conditions will stayp forever. Every bubble takes place with ner perfect conditions and huge profit margins, and the market runs with that. As soon as it will stay there forever
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