There is also evidence that market valuations revert to the mean over the long term, so pointing out when markets look historically cheap or dear can help.

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China runs an enormous balance-of-payments surplus by pegging its currency low, so that its exports are cheap and its imports dear.

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Second, just as backup quarterbacks frequently wait for mistakes made by the starter in order to get their chance to play, so do prudent individuals often save their money in order to buy on the cheap what was once dear.

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Luxury in Milan rarely comes cheap, and its especially dear during fall fair season (right now).

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It was also about being in the right zip code, finding the next big applications and companies and industries well before they took off, when you could invest on the cheap and then sell when they were dear.

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Major Strasser: My dear Mademoiselle, perhaps you have observed that in Casablanca, human life is cheap.

NPR: Historian Robert Satloff