To be fair, there's a subtle but important difference to: - we're going into the next Great Depression (a once in a lifetime occurrence) - a small subset of s

To be fair, there's a subtle but important difference to: - we're going into the next Great Depression (a once in a lifetime occurrence) - a small subset of stocks (that happens to make up a huge portion of the entire equity market in the US) has extreme PE and PEG ratios and will pop (which happens every few years) I think your point largely stands for both cases, but it's important to delineate them. If you're preparing for a Great Depression - you're likely only going to be right by coincidence. If you're preparing for a stock bubble to pop, at the very least, you've got better odds.