warring factions in libya since the 2011 ouster and subsequent death of mo market off he -- of muammar gaddafis 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. vonnie: thank you. bloomberg opinion columnist john "stocks haves, grown very expensive by conventional metrics. most stock markets in the rest of the world have not." he joins us now by phone. are you saying that because this has been the case for so long, it can't continue to be the case just because? john: well, i've been making that argument for several years best,nd it is at the very i've been too early, which is another way of saying i've been wrong. goes,y, the further this the more hope you put in america to remain preeminent, but there are quite a few factors that probably do keep america running very hot for quite a while yet. guy: this is about tech, isn't it? that is with the u.s. has, and everybody wants it. john: yes, it is partly about tech. you can run the numbers without the faang stocks, the really