Cape Ratio

The cape ratio has been rising for the last four decades, and we've been above the longterm average 95 % of th time. It means all of a sudden you're having ah, this massive bubble where things are gtting more expensive,. The further it goes up, the lower your likely future returns to bet. You're just mortgaging the future, taking returns in the future, bringing em in. When it's low, same different. So i say, guess what, this sucker could go to 60 or a hundred, where japan hit almost a hundred in the eighties - that's entirely within the realm of possibility.

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