If You Buy Overvalued Stocks Your Stockmarket Returns Will Be Terrible

Many young and inexperienced investors do not understand that if you overpay for stocks your returns tend to be low or end up being losses.

Free cash flow and what a company can payout in the future is what determines what a company is worth.

Global Value: Building Trading Models with the 10 Year CAPE
https://mebfaber.com/wp-content/uploads/2016/05/SSRN-id2129474.pdf

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