I havent checked how close/far to the correlations we are right now, but the main point is that its not useful to use some P/E ratio* from the 1980s to decide i

I havent checked how close/far to the correlations we are right now, but the main point is that its not useful to use some P/E ratio* from the 1980s to decide if a particular company or sector is overvalued or not. It would basically be P/E/Money Supply instead *or revenue multiple, general valuation, etc