S&P 500 Valuation – Shiller’s Cyclically-Adjusted Price-To-Earnings (CAPE) Ratio
S&P 500 Valuation – Shiller’s Cyclically-Adjusted Price-To-Earnings (CAPE) Ratio The Shiller CAPE ratio is high compared to historical norms. While valuation metrics aren’t reliable timing tools, investors should note that extended periods of high valuations typically lead to lower future returns. Image: Morgan Stanley Research