I’ve posted Entry #368 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Stock Price Booms Rarely Lead to Stock Price Crashes.
Juicy Excerpt: Valuations tell us a lot about how the u.s market works. But they do not tell us everything. Investors hoping to use an understanding of valuations to enhance their long-term investing results need to be as aware of the limitations of valuation analysis as much as they need to be aware of its power.limitations