No, folks, the markets are still not in line with fundamentals:
And that applies to all three sets of fundamentals: pre-COVID19 conditions in the underlying economy (secular stagnation), during-COVID19 collapse of the economy, and post-COVID19 expectations for the economy.
Which, of course, explains why Buffett sees no opportunities for buying, given the above chart is one of his favourite indicators of value.
And that applies to all three sets of fundamentals: pre-COVID19 conditions in the underlying economy (secular stagnation), during-COVID19 collapse of the economy, and post-COVID19 expectations for the economy.
Which, of course, explains why Buffett sees no opportunities for buying, given the above chart is one of his favourite indicators of value.
