Time to hang up your CAPE?
June 21, 2019 at 11:50 AM EDT
By Dan Suzuki, CFA, Richard Bernstein Advisors The cyclically adjusted P/E ratio (CAPE) — also known as the Shiller PE — was first published in 1998 [1] and has since become one of the most widely followed valuation metrics, particularly for those arguing that the stock market is expensive. When...