"As much as I think the S&P is adequately valued, I'm finding a lot of companies that are very attractively priced," he said."Market cycles don't end at fair value, they end at overvaluation.""I believe 10 years into a bull market, if you're finding cheap stocks, there's something wrong with the stock," he said.
He argues that its earnings are growing much faster than the rest of the market, but its valuation looks much lower.
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