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<p>[QUOTE=&quot;NorthKorea, post: 1791129, member: 29643&quot;]I&#039;m going to sound psychotic saying this...</p><p>&nbsp;</p><p>I believe stocks are always a buy (if I&#039;m buying at all), assuming you don&#039;t need the money for a while (10+ years). That said, we *might* be in an equities bubble, even at 19 times earnings, IF earnings are in a bubble. Due to GAAP standards pushing for valuation of contracts upon receipt, instead of when signed, it&#039;s entirely possible that audited earnings are a two-year trailing indicator. I think we need to start considering reporting season earnings QoQ instead of YoY to account for rapidly decelerating/accelerating trends. That&#039;s why we keep getting such extreme misses/blowouts. It&#039;s not entirely due to under-/over-reporting by firms. Moreso it has to do with non-standardized reporting methods.</p><p>&nbsp;</p><p>All that said, I don&#039;t think we&#039;re in an equities bubble right now, since I believe we&#039;re in a currency bubble. Once that pops, we&#039;ll see the equity bubble deflate prior to popping.[/QUOTE]</p><p><br /></p>

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