#35: What Do We Do With High Valuation Stocks and Markets?

What do we do when valuations of stocks and markets become so high as to defy our most careful assessment of the value of the business and its future cash flows? Today we are going to present some options for layering in a process or method to use during these times. Our purpose here is to provide a few ways to help you think about  addressing the question directly, especially since valuation is one of the most potent triggers to take our conversation into the world of the abstract, to launch us directly into the mess of our own investment biases, to get into conversations that just swirl around and don't go anywhere, or  to amp up the fear and confusion... all of which get in the way of making great decisions. After listening to this you may come up with your own framework.  The design principle here is to have a process that will keep you on shore, rather than being swept away into the swirl.