Based on GAAP, no---i don't have pro forma chart, however.
Got dig up a chart for what the low was, but it was never below 22-1 i think, but that must be verified.
This market is fighting history out of a desperate dependency on the market that never existed before.
Therefore the vast majority will naturally deny that it can happen and will buy on their view thus maintaining chronic overevaluation.
Can this desperate dependency sustain its break with history????
Paradox, it has TOO maintain this irrational scale of valuations therefore it must not agree that it is irrational, and instead stamp it rational and thus keep it going.
How long can market do this? hmmmm. gd.
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