Value investors should completely exit a security by the time it reaches full value; owning overvalued securities is the realm of speculators.
A true bubble is when something is overvalued and intensely believed.
Gold is not overvalued at $500, and gold will not be overvalued at $1,500 or $2,000. The real money is buying gold and putting it away.
I worry that free imagination is overvalued, and I think this carries risks.
Because it corresponds to a vital need, love is overvalued in our culture. It becomes a phantom - like success - carrying with it the illusion that it is a solution for all problems.
I wanted to hold happiness in reserve, like a bottle of champagne. I postponed it because I was afraid, because I overvalued it, and then I didn't want to use it up, because what do you wish for then?
I had difficulty being friends with women who hadn't worked in either the sex or beauty industries. I felt like other women sometimes overvalued beauty and sexuality, when in actuality, they're just parts of a job.
That's not to say there's no such thing as an overvalued market, but there's no point worrying about it.
