4 ms·
"“The markets are overvalued to the tune of 50%, and I’ve been saying that for some time,” said Mr. Spitznagel" I always enjoy quotes like that. I wonder if t
by tempestn 11y ago
"“The markets are overvalued to the tune of 50%, and I’ve been saying that for some time,” said Mr. Spitznagel"
I always enjoy quotes like that. I wonder if the markets have gained 50% over the time he's been saying it.
- graeme 11y agoI posted on another comment about quotes and may as well do so here: don't trust a journalistic quote to be a verbatim representation. Charitably, he might be saying that he long claimed markets were overvalued. Only an idiot would claim that markets were constantly overvalued by 50% while fluctuating all the time. Unless you have a verbatim transcript, it's best not to assume that a stupid-sounding quote was said literally as quoted.
- tempestn 11y agoAgreed. I wasn't assuming he meant they were exactly 50% overvalued. More making the general point that if you call for a correction in the markets long enough, eventually you'll be right. Obviously anyone can look at valuation metrics and compare them to historical averages (and I'm sure his analysis was more advanced than that), but I'm pretty skeptical of anyone who claims they have actionable knowledge of the over- or under-valuation of the market.