Value Investing News

It makes a lot of sense that the aggregate value of a country's stock market should be correlated with its Gross National Product (GNP). In this 2001 article, Buffett argues that while "the [stock market value to GNP] ratio has certain limitations in telling you what you need to know...it is probably the best single measure of where valuations stand at any given moment."
Here's a look at this ratio for the last several decades:

• http://barelkarsan.com/2009/02/buffetts-stock-market-indicator.html