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Fritz who is ALWAYS good - was even BETTER than ever today - helping to clearly explain (at least to me - and I have been doing market analysis for myself + clients for over 30 years!) WHY we really need not fear current market valuations. As he said - it is all about earnings. And "if" earnings come through as expected - we have a lot more to fear about being too conservative than being bullish - at least over the intermediate term. You don't hear this kind of concrete WISDOM in Forbes, Barrons, or the WSJ