Ryan Sean Adams

There's only been five years at which point he thought the market was cheap enough to buy.

Right now, he said it's kind of operating a bit more like a casino.

And Berkshire Hathaway is stacking cash.

They've sold into this market the last few years.

They've been net sellers of stocks.

And then he'll look at probably a metric like this, which we have on the screen, which is the Shiller PE CAPE ratio.

Let's talk about some of the data and try to get to a sense of how valued the current equities market actually is.

So what does the Shiller index tell us?

North means higher, right?

So 1929, we peaked what?

This looks at like 33 or 34.

33 or so, yeah, yeah.

And right now we're at 42.

So the only time in history Shiller PE has been higher was in the year 2000.

basically, the dot-com boom.

And it was only mildly higher at the time, 45 or something rather than 42 right now.

And remind us what Shiller PE is actually telling us.

It's a ratio of price to earnings, or it's some sort of index of price to earnings, inflation adjusted?

When I look at this, I'm just like, how do you buy into this market?

Is it safe to say that