Funny how over history financial investors will come up with models to justify their investment choices in lieu of good ol common sense...of course the market is over valued...its pumped up by the contiuing printing of dollars looking to find a home in a historically low interest rate deflationary environment and a world wide sluggish economy that is still trying to dig its way out of the mortgage derivative sink hole that almost lead to a world wide depression. Instead the world wide banks turned on the printing presses and haven' t stopped since. So as long as this scenario continues....money will find its way into the market...inflating the stock values until some event or discovery occurs which ignites the world economy and that engine tears apart the current excess dollar and debt bomb like we've never seen.