Subject: Re: Value, when to buy
"Have you tried other time intervals besides 20 years, say 30 years."

I realize that using 20 years keeps you within the post 1998 growth period, but the price versus value relationship holds across all three growth periods, 1965-1980, 1981-1999 and 2000-2025. There are knees in BV vs time (semilog) at 1980 and 1999, but price vs BV (log-log) is unaffected.