#12 The Value Architect
Behind the Balance Sheet
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Are We Going to Have to Play Through a Different Playbook?
A, so that's an interesting question. We're still near 30 times trailing ten year earnings write verses o long term average. Soowand as you know, bright like markets are like rubber bands and this works for markets over all,. But even in a sideways market, let's say we go through a period of a year or two where markets are rallying and getting more expensive then we should be selling those stocks. Then, as markets fall back to normal levels, we should see more opportunities to buy cheaper stocks. And on the flip side too many people think they can own good companies forever because there is no price right for them. That was really just more a relic of the market we
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