\- Fear Of Missing Out is greater than Fear of Loosing for investors.
\- We are mostly either in Overvalued Territory or Undervalued.
\- CAPE & Other Metrics all time highs.
\- We never learn our lessons.
\- Although Bears are right, that does not translate into making money, short or long term, because it's hard to time exuberance.
\- Fundamentally "investors' don't undestand business.
I'll expand on the last point of investors not understanding busines:
\- A PE of 15 is considered cheap these days (or average historically). That's a 6.7% Return per year, things constant. That means you get your money back in 15 years. To me that's not good.
\- Historical PE constantly gets overlooked. And if you've actually ran a business, the hardest thing is to just maintain last year's results. Competitors, changing world, etc.
\- A Forward PE half the historical PE (barring any one time events). should worry you, and mak you think twice.
\- A company that has been in existence for 10 years and has a 300PE.. what is that?
\- How about a company with a PE of 300 for the past 5 years or more. Are investors, we, really that smart?
Decent replies please