I could have been more clear there for sure. I don't understand the multiples being offered to companies today in the stock market. Specifically I'm thinking about multiples relative to revenue, earnings, or profit.
When I'm investing in a business I want to know how quickly I can get my money back, and how risky I think the investment is relative to my expected gains.
When I'm investing in baseball cards I want to know how much the next person will pay me for it. The stock market seems much more inline with that today, and in any reality where stocks are meant to be considered investment that seems disconnected or entirely unhinged.
I was talking about the average p/e ratios in the market today. Though they are around 1.7 standard deviations above historical trends, so while there will be some that aren't high relative to historic trends most are.
When I'm investing in a business I want to know how quickly I can get my money back, and how risky I think the investment is relative to my expected gains.
When I'm investing in baseball cards I want to know how much the next person will pay me for it. The stock market seems much more inline with that today, and in any reality where stocks are meant to be considered investment that seems disconnected or entirely unhinged.