Buy Low, Sell High: Why James G Is 80% Cash With Markets Near All-Time Highs
Key takeaways
- Most large stocks were at or near all-time highs while many traders acted as if a big correction had already happened.
- James uses a P/E of 20, which he calls the golden ratio, as his yardstick for a fair price.
- He held 80% cash and 20% equities, waiting to buy quality names on pullbacks.
In a short video on 19 October 2026, James G made one point with a single chart after another: almost everything is already expensive. Plenty of traders were talking as if the bull market had not started. His charts told a different story.
The all-time-high check
He started with where each asset sat against its record:
- Bitcoin was around $82,000, against an all-time high of about $125,000.
- Apple was at an all-time high even after a sharp Friday sell-off, with a P/E ratio of about 39.
- Samsung, Meta, TSM and the Nasdaq were all at or close to their highs. He flagged a possible double top on TSM and a rising wedge on the Nasdaq that had already started to break.
- In crypto, smaller coins such as Uniswap, TAO and Gram were near their lows instead.
The golden ratio: a P/E of 20
James's rule of thumb is simple. A P/E of 20 means it takes 20 years of current earnings to equal the price, and he treats that as fair value. Anything far above it needs a very good reason.
That is why he does not call Tesla cheap just because it trades below its $500 high. On his screen Tesla's P/E was about 336, which he put as 336 years of current earnings to equal the price. Amazon sat near 20 and Nvidia near 28. Google stood out at about 17, which he linked to its profits and early stakes in fast-growing private companies. Google also showed what looked like a bull flag, so it was the one name he was willing to add to.
How he positions
His answer to an expensive market is patience. He was 80% cash and 20% equities, and he wants to buy Amazon, Google and Nvidia when they come off their highs and their P/E ratios move closer to 20. In his words: buy low, sell high.
Use it yourself
- Before buying, check how far the price is from its all-time high.
- Compare the P/E ratio with 20. Far above it means you are paying for a lot of future growth.
- Keep dry powder so a pullback is an opportunity, not a margin call.
- Set alerts or limit orders at support instead of chasing green candles.
80% cash while everything sits at all-time highs
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Tesla's P/E ratio says 336 years
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Not financial advice. This article summarises James G's public video of 19 October 2026. Prices, levels and trades are the ones he stated on that day, they are his own positions, and markets have moved since. Do your own research and never risk money you cannot afford to lose.
