BTW Buffett himself recently DISMISSED his ow indicators by "claiming" low inflation allows for these distortions. The other golden rule all analysts believe in is that the last 40 years of deflation/disinflation with productivity gains for innovation and cheap labor is a given going forward. Inflation will be as insidious as the late 70's to 80's with one distinction, the world economies will never survive long enough to see double digit inflation again. A multi-decade winter is coming soon. One month to two years out. best guestimate.