Agreed. 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 enoug

Agreed. 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.