If you read my post from yesterday, please take a moment and refer back to the blog post to read the comments exchange between David Turner and myself. David asked a really good question about something I stated in my post that was not explained in any detail. I attempted to offer an explanation via the comments. This brief follow-up is just to let you know about those comments. Perhaps, they might be helpful in your efforts to formulate valuation judgments relative to stock investing. Go here for the blog post (comments are at bottom).