Monday , 6 December 2021

Berkshire’s Charlie Munger: Market “Even Crazier” Now Than During DotCom Boom

…[The Australian Financial Review reports that Munger said Friday that he believes the] markets are wildly overvalued in places and that the current environment is “even crazier” than the dotcom boom of the late 1990s that subsequently led to a bust. He is not wrong.

This post by Lorimer Wilson, Managing Editor of munKNEE.com, is an edited ([ ]) and abridged (…) excerpt from an article from zerohedge.com for the sake of clarity and brevity to provide you with a fast and easy read. Please note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

1. Investor demand for U.S. technology stocks amid the pandemic has taken the Nasdaq 100 to a relative record against the Dow Jones Industrial Average…exceeding the peak set during the dot-com bubble.

2. On an absolute basis, US stocks have never been more expensive relative to sales.and never been more expensive relative to the nation’s GDP.

4. …Munger wishes cryptocurrencies had “never been invented,” and thinks the Chinesemade the correct decision, which was to simply ban them. In my country, English-speaking civilization has made the wrong decision, I just can’t stand participating in these insane booms, one way or another.”…

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