Are Stocks Too High? A Historical Perspective

§That the differences between traditional and smoothed P/E can lead investors to ... ” measures are less affected by accounting differences and incentives 1: Advocates being: - “An Old Friend, The Stock Market’s Shiller P/E”, Asness, November 2012 - “In Defenseof the Shiller P/E”, The Economist, May 2011 ... Starting CAPE ratio ... ................
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