I posted the following on the Motley Fool HG Valutaion board, sort of an improvement on an earlier journal entry I had made. So I thought I’d put it here too, for posterity. It also gives me an excuse to try out the lj cut function. And reveal what a total geek I am, in case there was any confusion on that point.
Back in December 2001, Warren Buffett wrote an article for Fortune magazine, which was a followup to a November 1999 article about the valuation of the stock market (actually, it had a lot of good stuff in it, but overall market valuation is what I’m going to discuss here).