Subject: Re: Berkshire’s cash and next crash
Heck, Idunno…
Sometimes I think a difference between now and 1999 isn't the presence of fundamentals—it's the valuation attached to them. The market is pricing these stocks not just on current cash flow but on the assumption of endless, exponential growth. That's a huge bet on the future which is exactly what made 1999 so fragile.

Again, Idunno

Grateful Always,
PaulnKC