### Comment:
Almost feels like it yeah... but it’s not like the valuations are crazy. I wouldn’t consider google it be super overvalued like tech in general was back in the dot com bubble... Netflix, maybe.

### REPLY:
I think things aren’t necessarily overvalued when looked at today, but they are based on growth projections.  If there is some macro event that slows down the economy as a whole these growth targets may not hit and you could see multiples decrease. 
  
 Is this what Soros calls reflexivity or do I have that wrong?

### END.