Yes.

The discussion also mentioned..

The often quoted

"The 1.15-square-kilometer (0.44 sq mi) palace grounds and gardens are built on the site of the old Edo Castle. During the height of the 1980s Japanese property bubble, the value of the palace grounds was held by some to be more than that of all the real estate in the U.S. state of California."

As to how toppy real estate and equity valuations were back then in Japan.

Made me think that perhaps the US is in the same boat now. Perhaps it is different this time?

I do appreciate there are fundamental differences between the US and Japanese economies however from a valuation perspective.

A guy on YouTube made a good point that Apple PE ratio has expanded from from 20 to 33 despite declining revenue and earnings, bot normal or sustainable and definitely bubble territory.

Berkshire Hathaway FAQ

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