Zeev's Turnips Patch-No Politics (ZEEV)

[mikemargin]

the number that represents a price on a stock has nothing to do with how cheap or expencive it is. So the fact that Symantic is up substantially since then is irrelevent. What is relevent is historic valuation based on PE/ Price to sales/ Price to book/ yield etc. Your responce to me exeplifies the idiocy of how people think stocks are valued. The PE on the S&P, even assuming you accept the bull sh&T pro forma, option tainted numbers, is at peak levels only surpassed in 2000. We are above valuations reached in all other market tops. There is always reversion to the mean, and at some point stocks in the USA will reach true value levels of arround 7PE. This is the level that bear markets usially end up at. True value investors like Warren Buffet and Jon Templeton also agree that there is next to nothing of value to buy out there. The fact that SYMC has done so well is an aberation, and if youd bought 10 tech stocks along with SYMC the other 9 would be down 50%. So I will stick by my dumb statement that the market is woefull overvalued.