Market cap to GDP
Market cap to GDP compares a stock—the value of listed equities at a point in time—with a flow—the annualized value of domestic production during a quarter. That mismatch is intentional but imperfect: listed firms earn abroad, private firms contribute to GDP, and GDP is revised after release.
How Buy Like Buffett uses it
The Buffett Indicator page dates both sides, names every series, preserves GDP vintage information, and shows a long-run trend without calling it fair value. Readings are descriptive context, not buy or sell instructions.