The debate about the "when" of the market, both "when" it may go down and "when" it is overvalued gets raked into the same basket. It is one thing to say something like, "After Greenspan's famous comment the market went up 4 more years...so he was wrong." That's the "when" of the chart. The "when" of the valuation puts Greenspan as pretty smart.

As I've mentioned before Abbey Joseph Cohen has a big time reputation for her "calls" of the late 1990's. In essence she was right that the market would fly yet dead wrong as to eventual valuations of the very stocks that she promoted.

Most, if not all, the investment media people we follow today are chained to the direction of the market. This is what defines them and their job, they cannot in any way, shape, or form be left of stocks going higher if they want to work.

Berkshire Hathaway FAQ

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