Or going to start soon?

Stocks or crypto?

#DEBT

I was thinking stocks.  We were sitting at about 50% cash, now we're looking at doing some buying.  Looking at some REITs & BDCs mostly.

>stocks

FWIW, feed headlines seem to say we're not at the bottom yet.

> bottom

Yeah, probably not yet.

I like this page, which seems to be regularly updated.  https://www.advisorperspectives.com/dshort/updates/2018/02/02/is-the-stock-market-cheap

P/E10 Ratio = 33.5 (historic average is 16.. Currently in 97th percentile. Currently sitting at a high deviation from the mean.

"Be fearful when others are greedy and greedy when others are fearful." - Warren Buffett

Summary: Based on valuations, I'm fearful. It'll probably go higher. You should be greedy.

>P/E10 Ratio = 33.5 (historic average is 16 )

I was just looking at some of the high-flyer P/E ratios earlier this week.  Holy crap! Back a couple of decades ago, I got fearful at 14.

Don't be fooled by the 'stocks are cheap now' argument. They're not

https://www.cnbc.com/2018/02/12/dont-be-fooled-by-the-stocks-are-cheap-now-argument-theyre-not.html

^{<mind the gap>}

To Icahn, who at 84 has traded through all the stock-market crashes since the Great Depression, the future is just too unpredictable for the S&P 500 to be trading at 17 times 2021 earnings estimates.

He's hoarding cash, ^**shorting commercial real estate^** and preparing for the coronavirus to wreak more havoc.



Icahn Says Stocks Are Overvalued, Virus May Cause 'Downdrafts'
https://www.bloomberg.com/news/articles/2020-04-25/icahn-says-stocks-are-overvalued-virus-may-cause-downdrafts

>shorting commercial real estate

Probably a safer bet these days.