"The market is priced more than two times the size of the entire economy. 130% overvalued isn't just high. It's higher than it was at the peak of the dot bubble in the year 2000 and way higher than right before the 2008 crash."

… t number is about equal where the stock total stock market value to G to GDP is about 1 one, the market economy that's considered roughly normal. Buffett himself has said the zone where he gets excited to buy, where stocks are actually cheap, is around 70 to 80% of that value. So where is it today, guys? It's 130% overvalued. Listen to that again. The market is priced more than two times the size of the entire economy. 130% overvalued isn't just high. It's higher than it was at the peak of the dot bubble in the year 2000 and way higher than right before the 2008 crash. Guys, after the year 2000, it took 12 years for the S&P to get a new high again. It took 16 years for the NASDAQ because the NASDAQ went and fell over 80% from its peak in 2000 to its bottom in 2002 or 2003. Now, I'm not telling you that a crash is coming tomorrow because a high reading can stay high for a long time. It has for a while. We've been …