One who intends to leave others better off for his having existed.


Current financial market valuations worse than January, 2000

"...the median valuation for the top 1500 stocks by market cap today is higher than it was in 1999,

Median P/E today is 20 vs. 16 in January 2000

Median price-to-book today is 2.5 vs. 2.2 in 2000

Median price-to-revenue today is 1.8 vs. 1.4 in 2000"

We don't have the wacko, off the charts overvaluation 
of the sector in 1999,
but we don't have the broad value as well

Everything seems expensive. 

There's almost nowhere to hide. 

It's very difficult to find [value]" in the market today.

Brett Arends

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