How Close Should Investors Follow the Macroeconomic Background?

In March of 2000 when you were at the peak of that dot com bubble and the NASDAQ was selling at five six hundred times earnings it was crazy. Clearly when the economy slows profit slow and run profit slow and the investors are less willing to pay up for stocks they're paying a multiple. I remember kind of saying wow if he thinks this is pricey he's a buy and hold guy. Yeah it's got to really be pricey. Big cap tech stocks are a suckers bet. None of those names ring the bell. You know Yahoo EMC AOL you know Sun Microwave Oracle. And that's an unusual statement from you.