RE: Forget The P/E Ratio - This Is The New Ratio To Look At...

Of course I wrote it.

I agree with you about assets inflating in value... However, the companies that are the most inflated in value have almost zero tangible assets. And the intellectual or technological assets that they do own are often just a dream or idea.
The companies with the highest P/E multiples (think Netflix, Tesla, etc.) are the ones that have the 'biggest dreams.' If they can't execute on those dreams, then there is nothing left to back up their proposed value.