I am an ASX shareholder since 80c...., ALL companies with shares...

I am an ASX shareholder since 80c...., ALL companies with shares that have soared in recent months have earnings multiples that are very very stretched but that has not deterred their price rise. They are the gold and iron ore stocks of 5 years ago. Whilst it was probably easier to determine supply with the latter, it is not the same as agri as supply cant be increased as easily , so that will determine whether the price rise can be justified. But do not always accept what Fund Managers comment because at the end of November FCNZ made a comment in the AFR that the milk was going to run dry and they "downgraded " the stock, of course AFTER they had reduced their significant shareholder status and had sold down more that 2% of their holding when the price had just reached $1.0 .....but low and behold the market kept pushing up the stock and when it retraced back to the low $1.0 range guess who was buying again? Right, FCNZ.....so . rule number 2 , NEVER BELIEVE the fundies, tricky guys ......rule number 1 is " make your own decisions and if you feel strongly, go for it .....