In @HowardMarksBook's memo early this year, one key thing I realized is how wrong I was to dismiss some businesses because I thought they were overvalued simply after looking at the P/E, P/S ratio etc.

You can't determine a business is overvalued without knowing the in-depth qualitative fundamentals of the business, because otherwise where is your edge? Anyone in the world can simply look at a company's P/E ratio.
I know this seems obvious, but so many people on fintwit are very guilty of this - myself included.

Unless I really know and understand a business, even if it has a seemingly absurd P/E or P/S ratio, I will refrain from concluding it is overvalued. It's just lazy and wrong.
The weird thing about this is that when I'm normally researching a business, I totally understand this about valuation and do in-depth research and determine if it's undervalued. But then I'm quickly dismissive of a tech company that trades at 50x earnings and say it's overvalued

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I hate when I learn something new (to me) & stunning about the Jeff Epstein network (h/t MoodyKnowsNada.)

Where to begin?

So our new Secretary of State Anthony Blinken's stepfather, Samuel Pisar, was "longtime lawyer and confidant of...Robert Maxwell," Ghislaine Maxwell's Dad.


"Pisar was one of the last people to speak to Maxwell, by phone, probably an hour before the chairman of Mirror Group Newspapers fell off his luxury yacht the Lady Ghislaine on 5 November, 1991."
https://t.co/DAEgchNyTP


OK, so that's just a coincidence. Moving on, Anthony Blinken "attended the prestigious Dalton School in New York City"...wait, what? https://t.co/DnE6AvHmJg

Dalton School...Dalton School...rings a

Oh that's right.

The dad of the U.S. Attorney General under both George W. Bush & Donald Trump, William Barr, was headmaster of the Dalton School.

Donald Barr was also quite a


I'm not going to even mention that Blinken's stepdad Sam Pisar's name was in Epstein's "black book."

Lots of names in that book. I mean, for example, Cuomo, Trump, Clinton, Prince Andrew, Bill Cosby, Woody Allen - all in that book, and their reputations are spotless.