Debating the Valuation Conundrum

http://trendmacro.com/system/files/reports/20020513TrendMacroGitlitzLuskin-D4.pdf
Donald L. Luskin
David Gitlitz
Monday, May 13, 2002
David Gitlitz doesn't agree that equity valuations got too high in the late 1990s -- but he and Luskin both think they're too high now.