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

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So when is a bubble not a bubble?

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There are so many ways to answer this, but I don't want to get caught in a game of arguing over different people's definitions. I will say that the GMO people seem to be a little cavalier with their use of the term, but that's just a marketing thing I guess.

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But the part about returning to their prior trends could mean the P/E actually increased to a value meeting expectations. And since they won't say what they are, I'm a bit sceptical.

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Yeah. You have to be when people won't give out the proprietary information.

When are P/E's really out of whack, and when are they just indicative of future expected growth that is genuinely about to take off? GMO claims they have the answer.... you just have to pay them a bunch of money for them to give you the details.