The CAPE Ratio is Very High

Let’s travel back in time to June 2014. The Cleveland Cavaliers had just made Andrew Wiggins the first overall pick. “Fancy” by Iggy Azalea was the #1 song on the charts. The fourth Transformers movie, the one with Mark Wahlberg, was the blockbuster movie of the summer. And the CAPE ratio hit 25 for just the third time in the last hundred years.

A lot was made of this arbitrary number at the time. Comin…

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