I'm a Bear, and Not Just Because I'm Big and Cuddly

I see huge overvaluation everywhere -- yes, even now, after the markets have fallen somewhat. Here are just a few examples: 

I believe that EV stocks, even after the crash so far, are greatly overvalued. The only way that TSLA was worth a trillion dollars is if you bought the dream that Tesla was going to dominate the worldwide automotive industry. At half a trillion or even 200 billion, it would still be ridiculously overvalued. 

 OEM's are transitioning to EV's, they always planned to do so, which means that the narrative about Tesla being unique and disruptive has always been fiction. 

I love EV's. I think the OEM's will make great EV's. 

Turning from EV stocks to cryptocurrency, we're going from overvalued assets, to assets which are very nearly literally worthless. Blockchain technology has a lot of applications. REAL applications. Encryption, managing smart grids, etc. It should be valued based on reality. 

EV's, cryptocurrency, wristwatches, automobiles in general, real estate -- there's an awful lot of things which are still hugely overvalued. I don't know where the rational bottom of this market is, but we're still far above it. 

Having said all of that: of course, the value of securities never needs to be rational. It could be that I'm being grossly irrational by emphasizing rational valuations. All I know for sure is nobody knows where the market will go, and nobody ever knows. Some of us sometimes guess well. That's the most anybody can hope for.