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I've been following your discussion with 12X. Interesting views of valuations. P/S ratios soared unsustab=nably in 2020, no doubt. I sold out of crypto a month ago (thank God) but I'm still down huge in my speculative high-growth stocks, including Meli and U. Made out like a bandit in CRWD and others over the past year or two, but if the FAANGs correct 10%-20% is that the end of it? Instead of a v-shaped recovery, which is naive and defeats the purpose, I'm hoping we get a period of stagnation in the markets for six months to a year so valuations can normalize earnings (presumably) shoot up, despite inflation. Then onward and upward?
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