1.   Are investors replacing those retired shares, though, with shares of increasingly dicey, overvalued companies?

2.   At best, that pressure discouraged executives from reminding investors that their companies were badly overvalued, by historical measures.

3.   Disney chief executive Michael Eisner recently fueled another round of speculation by expressing interest in Yahoo, though he added the Internet company was overvalued.

4.   Even measured by the outsized valuations of Internet companies, many analysts seem to think that the company is overvalued.

5.   McCamant warned that a product based on the discovery is still some time away, and that the stock price movement may overvalue the company.

6.   Short-sellers, who make money when stocks decline, said the sell-off confirmed their warnings that many technology companies were badly overvalued.

7.   State Street, a unit of Metropolitan Life Insurance, blamed short-sellers, who had bet heavily that the companies were overvalued.

8.   Buffett told investors here in April that he thought U.S. companies were overvalued and that he was eyeing a large but unspecified target in Britain.

9.   Buffett told investors here in April that he thought U.S. companies were overvalued and that he was eyeing a large but unspecified British target.