The Importance of Valuation in the Stock Market

Pete Banner: Mr. Greenspan made his comments about exuberance and it wasn't long thereafter that you came out in the annual report and made your comments that you felt the market was fully valued or something of that nature. Charlie? Well I certainly agree with that. We've got this under a routine. I have nothing to add. I didn't have anything to say either I just have longer. How about how about area two? Mr. Buffett my name is Pete Banner and I'm from Boulder, Colorado and I'm a shareholder. The last time I saw Alan Greenspan with but it was a long time ago. It's very hard to understand what Alan says sometimes so