Agree re:CAPE. Meanwhile, people are ignoring the relatively attractive valuations of small, value, plus developed and emerging ex-US markets. While retail investors pile onto overvalued US stocks, these are now slowly catching back up and starting to get ahead. Funny thing about all of this to me is that people are always fighting the last proverbial war. Ten years ago, US stocks and tech in particular were in the doghouse - no one was buying them then.
TL;DR A lot of investors buy high and sell low. We're seeing that now with crypto as well as US stocks.
TL;DR A lot of investors buy high and sell low. We're seeing that now with crypto as well as US stocks.