Nygren joins the olderst profession on CNBS saying "stocks are cheap" when he's a bald-faced pokerdfaced BSer and knows that the S & P Crestmont or Shiller p/e is 25, hey BILL, REMEMBER ADJUSTED FOR INTEREST RATES? That historical mean is 14.7 making the market almost 50% overvalued.
I wouldn't touch ANYTHING Nygren does ever again, he's a sellout arsewhole now. and his #$%$ tanks like an elevator after multi-year uptrend that barely moves.
GAAP EARNINGS p/e is 18.5, you call that "fairly valued" ? The fraud is the S&P has secretly moved the goalposts from reported earnings to operating earnings to FORWARD OPERATING EARNINGS p/e, that is fraud and corruption, 2 days ago my wife liquidated almost all the Oakmark we had left. Put $120K on our mortgage. This fraud will crash eventually.