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The failure of LTCM sent valuations out of whack and created anomalies that surviving managers were able to exploit.
But throwing valuations out the window on little more than faith in a stirring mission statement and a rosy future is a classic bubble symptom.
"The club are realising that possibly some some of the valuations out there are a little bit disrespectful and derisory to John's ability.
There was a strong suspicion that a stock market bubble was appearing, with valuations out of line with the economic reality of the time.
There's no question it's silly season in terms of a lot of valuations out there mostly in the early, less visible consumer Internet companies.
There's no doubt the site, whose market capitalization is $1.3 billion, has its eye on the bigger B2B valuations out there.
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Valuations carried out as part of the development of the next round of EU research support show that every €1 of funding from Framework 7 (the latest funding programme for research and technological development) produces an industry added-value of €13.
When I read it back, I assumed that if you hadn't got a valuation certificate within the last year, you would fall back to the £7,500 threshold or the last valuation carried out, but no, they've simply rejected it outright.
I am not asking for these companies to overvalue my house, but this valuation is out by almost £50,000.
However, every mortgage valuation carried out had to be supported by three valid sales comparables – all within the previous six months – and, for buy-to-let, three rental comparables, too.
It points to an actuarial valuation carried out by the trustees of the USS in March – a process that weighed up the value of the scheme's assets against the amount needed to pay pension rights already accrued, finding a £8bn shortfall.
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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