Party Like Its 1999
The current market makes me extremely uneasy. With the S&P 500 trading at all-time highs, we are one of the most expensive markets in the world.
I was at the CFA Society Dinner in Omaha yesterday, which featured a talk by Meb Faber, and he mentioned that we are trading at a Shiller CAPE of 40.94. This is Robert Shiller’s P/E ratio that…