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"We found that in many instances they were overvalued, and so we gave about 70percentt of them reductions".
But the high-tech sector wasn't as enthusiastic; they probably suspected they were overvalued by the market and didn't want to open that Pandora's box".
However, that still made shares better than the most common alternatives: government bonds (75% thought those were too pricey) and corporate bonds (72% felt they were overvalued).This unappealing choice may explain why, despite all the worries, stockmarkets' losses this year are still so modest.
He is certain that if Hamilton were alive today he already would have been out of stocks, prior to the late October plunge, on the ground that they were overvalued.
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Stocks are vulnerable to a tightening of Fed policy when they are overvalued.
"I'm not building any houses because they are overvalued," Mr. Kellner said.
"That's not to say there won't be more competition and it won't get more difficult for them but I don't think they're overvalued.
Wall Street, after all, adheres to theory that you can always make money trading in securities, whether they are overvalued or not, because there will always be someone willing to pay more for them than you did.
In the American housing market, where the crisis started, homes are priced at around fair value on the basis of rental yields, but they are overvalued by almost 30% in Britain and by 50% in Australia, Hong Kong and Spain.Stockmarkets are still shy of their record peaks in most countries.
By traditional price/earnings multiples they are overvalued.
If you pay reasonable amount of attention to your portfolio and you stick to quality and you stick to value, and you buy stocks when they're Undervalued and sell them when they're Overvalued, it's as simple as that.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com