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Tom Furlong's avatar

Nice article, thanks for teaching, and the Abe Lincoln reference.

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Fred Stein's avatar

I'd split a hair. Warren Buffett has always said that he wants to buy great stocks at a fair price. In sharp contrast. many in the market today (or rather yesterday) 'bank' on great companies' great potential with little regard for valuation.

It's no surprise that both AAPL's and TSLA's multiples compressed and TSLA much more so. Through a RARR lens, both look good at this time. (to me anyway.)

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Doug Clinton's avatar

Agree that there has been excess credit given for perceived greatness in the market. You can't buy great at a crazy price. And would concur it's still happening today, although certainly less than yesterday.

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