Subject: Re: GOOG
P/S has worked well for the firm in the past, but perhaps not as well in future...so a move to valuing on a multiple of earnings (or smoothed earnings) may start to work better.

FYI,
Comment of mine as GOOG came up on another board (GOOGL at $152.60 when I wrote it):

certainly doesn't trade for less than 20 times trailing earnings very often.
Very briefly in the credit crunch. Some stretches in 2011-2012. A while late 2022 to very early 2023. That's about it for the last 20 years.
Though one might want to wear a seatbelt during any potential turbulence, I find it very hard to imagine a bad long term outcome from here.
Note, GOOGL is worth a hair more than GOOG but costs a hair less.

Jim