>> people will continue to pay higher prices Why are you sure if that? The opposite is true. At some point stockholders will get afraid and pull back. The ques

>> people will continue to pay higher prices Why are you sure if that? The opposite is true. At some point stockholders will get afraid and pull back. The question is how much, and who gets hurt the most. I think the point of the parent comment isn’t that a high PE ratio is inherently bad, but that these stocks are more highly valued relative to revenue than stocks usually are.