[agent281]

Given how companies operate internationally, is it fair to compare the stock market valuation against GDP? If Apple moved to a New Zealand based stock exchange, would that mean that the stock market in New Zealand wasn't healthy?

Also, could an increase in internationalization explain the relative difference between the Buffet Indicator today vs 25 years ago during the DotCom boom?

[lend000]

Interesting point -- I wonder if there are variations on this calculation available with global GDP, or ideally, company market cap adjusted by percentage of US revenue/profit to US GDP.

[relaxing]

Foreign investment in US stocks is certainly a factor. It’s been on the rise since the 90s and it could be interpreted as making the US markets overheated, if foreign investment suddenly pulled out…