P/E: Price to Enthusiasm
Pro writeup
I’ve always thought of valuation multiples as the markets “enthusiasm” for that asset at that point in the cycle.
Morgan Housel puts it well,
"You can measure everything about a bubble except the most…
I’ve always thought of valuation multiples as the markets “enthusiasm” for that asset at that point in the cycle.
Morgan Housel puts it well,
"You can measure everything about a bubble except the most…