academic theories and self-interested marketing by many firms preach repeatedly that it is much better to just buy stocks with some combination of attractive accounting ratios such as high: book to price, earnings to price, sales to price, among others. Yet it is clear, market prices over and under react but with time find their proper intrinsic values trying to understand if a company is trading above or below its intrinsic value is irrelevant and for this matter the markets have been made to look very expensive, what do you think about market valuation ?

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