Is Mr. Market getting a little silly?
For the first time since I started competing on this site, I was not able to add any "outperform" positions. I ended two, GIFI and YZC, and gave "underperform" ratings to two new picks, HOKU and ATHR. I would have "shorted" CRYO, but rules on this site do not permit me to do so. I also finished my "underperform" rating of ISSC.
Given that there were no new "outperform" positions, are the valuations of the market favoring a downturn? The current P/E for the Wilshire is over 19 when the historical average is 15. Current growth rates do not support this type of valuation. The current P/B is 2.82, which, in the minds of many value investors, is quite high.
Perhaps, value players need to step back and watch for a spell.