[krit_dms]

There's really no reason why GDP should equal market cap. Companies are largely (especially now, since interest is so low) valued on future income, rather than current income.

Look at Amazon and Netflix, both tradin at 200x earnings. This is beacuse investors think they will earn a lot more in the future than they do now. Are they overvalued? who knows.

[qubex]

Indeed, market valuation as a multiple of GDP is hitherto unknown to me. However that's why I wrote partially: foreign assets are factored into the value investors attribute to the stock market as a whole. In retrospect I shouldn't have argued from the standpoint of percentage of GDP.