@awealthofcs I was just looking at the EV/Sales for the top components. $MSFT had an EV/Sales of 8.1 back in 2000 &amp; it’s 9.6 today. $INTC is 4.08 now, was 3.35 back then. Same for most of the components - they’re even more expensive than the top $QQQ holdings in 2000, before the 80% drawdown.