look at 1987 the biggest % crash the DOW has EVER SEEN the PE RATIO was a mere 20 and markets crashed.
don't think it cant happen again with a PE of 21.
don't think the PE ratio has to get to 50 or 100 for markets to crash.
the 1929 crash that started the great depression, the PE ratio was a mere 16 and markets crashed.
BBUS, page-109
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