Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Wednesday, October 17, 2007

The Bubble debate

I read some retarded bubble debate. ok it's fucking stupid. the only question is if F P/E's are correct. based on what we know, they are. but if the economy takes a downturn... they wont' be, and stock prices will go down... Because earnings wont' be there.

a bubble would be if say... for some reason we decided that the P/E ratios of speculative stock was currently at 60 P/E and we decided it should be valued at 30 p/e

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