The Intrinsic Value Podcast - The Investor’s Podcast Network cover image

MI280: Deep Value Investing in 2023 w/ Tobias Carlisle

The Intrinsic Value Podcast - The Investor’s Podcast Network

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The Overvaluation of the Stock Market

I like these very long term metrics, like the Shiller PE, which adjusts for the business cycle and inflation adjusts the earnings. And all of those metrics say that we're very overvalued. When you lower interest rates, Buffett says it acts like gravity on assets. We're in this hiking cycle in the States. Central banks don't like hiking. The reason that they hike is because inflation is worse than hiking. It's an extremely regressive tax. So it's necessary to hike, to stop the runaway inflation. But if you look historically, what happens when the market starts falling and central banks start cutting? I suspect we're sort of in the back end now of this drawdown

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