system
A chat on subreddit /r/wallstreetbets
human
If it breaks, will plunge into pre-covid levels.
gpt
Well it's worth noting too that the USD has lost a lot of value since pre-covid. Like going on 20% right? So in other words, the Nasdaq has lost 20% that isn't even shown in the charts. You can look at the inflation adjusted Shiller P/E and see that the S&amp;P 500 is already well into covid crash levels. It's also where it was in 2004, so the S&amp;P may be up like 300% since 2004 but it actually isn't any more expensive in terms of price to earnings.