Wait a second, buffet says market is cheap and not in a bubble...

When the markets were crashing in 2000, Goldman would trot Abby Joseph Cohen out on CNBC to exclaim how good a value these stocks were. Meanwhile you could see GS on Level II offering out all day long, day after day on them.

Ah yes, the days of semi-transparency.

Many of the charts look just like 2000, however almost nothing trades like it did in 2000...i.e. lots and lots of momentum.
 
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