re: CAPE Ratios: How much weight should we assign to them in choosing markets?

Other than momentum factors it makes sense to at least consider PE10, especially if you have already won the game. Doesn't mean the market can't keep crawling higher for a few years, but for longer term results I like investing in less costly securities not more expensive, especially if one believes in reversion to the mean. One reason why rebalancing can make a lot of sense. Ben Graham 25-75 mantra would come into play. It's not like 1999-2000 at this point by a long shot, though, plus ZIRP continues.