I’ve posted Entry #20 to my weekly Beyond Buy-and-Hold column at the Out of Your Rut site. It’s called. How Do We Know When Stocks Are Overvalued?
Juicy Excerpt: Overvaluation is by definition a hidden danger. It can destroy us. But we cannot prepare for it. Once we sense a need to be wary, it is gone. Once our wariness fades, it returns. Overvaluation is like your shadow. Move in close to get a good look at it and it moves out of sight. The implications are huge.