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Is the Market Overvalued?
A lot of investors look at price earnings ratios and prices sales ratios as an indicator that stocks may be getting frothy or maybe undervalued. What are your thoughts about using such indicators? I think that when the market hits the top those indicators are going to say that the market was overvalued for two years before that too right. But do they work over long you know you talk to like Jeremy Grantham guys like that the work but he doesn't care to get out at 50 times sales so watch it go to 200 times Sales.