Calculate "owner earnings" to get a true reflection of value.
When you combine ignorance and leverage, you get some pretty interesting results.
Unless your answers are clearly better, copy the answers of your betters.
As one of my older friends says, "Nostalgia just isn't what it used to be." Let's take a stab at it, anyway.
You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.