@Just_a_guy
This is my opinion only- but to me this feels like a "selective" bull market where all the market participants are looking for the same type of stocks that have Buffett like underlying characteristics - and if that is all you are looking for the market does look expensive.
However, there are plenty of unloved stocks that have an investment case that is a bit harder to dig out, but offer great opportunities- you just have to look hard for them and beneath the surface.
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- Ann: Appendix 4D / Interim Financial Report HY17
Ann: Appendix 4D / Interim Financial Report HY17, page-31
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