I’ve posted Entry # 132 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s titled We Don’t Understand What the Word “Overvaluation” Means.
Juicy Excerpt: The truth is — Most of us don’t know. It’s not because we are not smart enough or because the concept is hard to understand. It is because we would rather not know. We avoid thinking about the question. It is the job of every expert in this field to help us overcome our reluctance to understand the meaning of this word.