Search found 2185 matches

by asif408
Thu Aug 27, 2020 1:55 pm
Forum: Personal Investments
Topic: Are International Stocks worth it?
Replies: 44
Views: 2753

Re: Are International Stocks worth it?

I do plan on diversifying into international stocks eventually, once I shift more into a preservation of capital phase, but right now growth is my main objective. I will take some time to read through previous threads also. In any case, thanks for the response everyone! Good luck! If you still have...
by asif408
Thu Aug 27, 2020 1:39 pm
Forum: Investing - Theory, News & General
Topic: Behavioral Reasons to Avoid SCV/Factor Strategies
Replies: 148
Views: 8167

Re: Behavioral Reasons to Avoid SCV/Factor Strategies

My behavioral reason to avoid SCV is that I prefer my investments to make money :twisted: I kid, I kid. But seriously it has been a rough 15 years for tilters. I hope your next 15 years of tilting goes better :sharebeer From what I can tell, SCV investing has been pretty good for the last 15 years ...
by asif408
Thu Aug 27, 2020 1:09 pm
Forum: Personal Investments
Topic: Are International Stocks worth it?
Replies: 44
Views: 2753

Re: Are International Stocks worth it?

I don't want to beat a dead horse, and I'm sure others will be happy to beat the dead horse, so before they get in and start beating the dead horse I would suggest using the search toolbox and typing something like "why international" or "is international necessary", and you'll get some good discuss...
by asif408
Thu Aug 27, 2020 7:43 am
Forum: Investing - Theory, News & General
Topic: Bear Cub Smells Bubble
Replies: 406
Views: 30015

Re: Bear Cub Smells Bubble

Ultimately interest rates and valuations are intertwined. And with the historic low interest rates we have today we should see historic high valuations. Except for Europe and Japan and much of the rest of the developed world markets, where interest are as low or lower than US rates, yet valuations ...
by asif408
Thu Aug 27, 2020 7:29 am
Forum: Investing - Theory, News & General
Topic: Can we talk about the future of oil?
Replies: 72
Views: 4896

Re: Can we talk about the future of oil?

To bring this to something actionable, OP, I don't know where oil stocks are going, but you can be sure the oil companies will evolve and adapt to new modes of energy and find ways to profit from them, so as long as you aren't investing in oil itself and investing in energy companies, those energy c...
by asif408
Wed Aug 26, 2020 3:52 pm
Forum: Investing - Theory, News & General
Topic: Bear Cub Smells Bubble
Replies: 406
Views: 30015

Re: Bear Cub Smells Bubble

Just curious if bear cub smells a bubble or euphoria in any of the following: 1) Energy stocks 2) Foreign developed and emerging markets stocks 3) Small cap value stocks worldwide I haven't talked to anyone who is particularly excited about the investments above, seems like a lot of the investors i...
by asif408
Wed Aug 26, 2020 3:26 pm
Forum: Investing - Theory, News & General
Topic: Bear Cub Smells Bubble
Replies: 406
Views: 30015

Re: Bear Cub Smells Bubble

Ultimately interest rates and valuations are intertwined. And with the historic low interest rates we have today we should see historic high valuations. Except for Europe and Japan and much of the rest of the developed world markets, where interest are as low or lower than US rates, yet valuations ...
by asif408
Wed Aug 26, 2020 9:45 am
Forum: Investing - Theory, News & General
Topic: Bear Cub Smells Bubble
Replies: 406
Views: 30015

Re: Bear Cub Smells Bubble

Just curious if bear cub smells a bubble or euphoria in any of the following: 1) Energy stocks 2) Foreign developed and emerging markets stocks 3) Small cap value stocks worldwide I haven't talked to anyone who is particularly excited about the investments above, seems like a lot of the investors in...
by asif408
Tue Aug 25, 2020 7:46 am
Forum: Investing - Theory, News & General
Topic: Will Nasdaq 100 (QQQ) Outperform VTI?
Replies: 72
Views: 3866

Re: Will Nasdaq 100 (QQQ) Outperform VTI?

Right, that's correct in theory, but as poster vineviz pointed out, most of the flows into QQQ have come after periods of outperformance. How many investors were throwing money into QQQ during the years following 2000 or stuck with putting money into it that decade? QQQ underperformed VFINX for 7 o...
by asif408
Mon Aug 24, 2020 1:46 pm
Forum: Investing - Theory, News & General
Topic: Vanguards says 'Why International Now'
Replies: 38
Views: 4584

Re: Vanguards says 'Why International Now'

We all know Vanguard is just chasing performance. They must have noticed international has beaten the US since May: https://finance.yahoo.com/chart/VXUS#eyJpbnRlcnZhbCI6ImRheSIsInBlcmlvZGljaXR5IjoxLCJ0aW1lVW5pdCI6bnVsbCwiY2FuZGxlV2lkdGgiOjE3LjMxNzQ2MDMxNzQ2MDMxNiwiZmxpcHBlZCI6ZmFsc2UsInZvbHVtZVVuZGV...
by asif408
Mon Aug 24, 2020 7:56 am
Forum: Investing - Theory, News & General
Topic: Will Nasdaq 100 (QQQ) Outperform VTI?
Replies: 72
Views: 3866

Re: Will Nasdaq 100 (QQQ) Outperform VTI?

I will never ever understand why people insist on putting up charts that have only an initial investment and no further contributions, making the results extremely sensitive to your start date. If you correctly guessed that QQQ was going to do well and stuck with it by putting in $500 a year, you m...
by asif408
Sun Aug 23, 2020 1:05 pm
Forum: Investing - Theory, News & General
Topic: Are these forecasts based on valuations reliable at all?
Replies: 29
Views: 1664

Re: Are these forecasts based on valuations reliable at all?

Take a look at this chart of CAPE ratios of US, Developed ex US, and emerging markets since 1985 and let me know what you think OP https://twitter.com/Callum_Thomas/status/1297285337811746816?s=20 You can decide for yourself if this information is useful. To my eye this information has been useful ...
by asif408
Sun Aug 23, 2020 6:33 am
Forum: Investing - Theory, News & General
Topic: Are these forecasts based on valuations reliable at all?
Replies: 29
Views: 1664

Re: Are these forecasts based on valuations reliable at all?

Take a look at this chart of CAPE ratios of US, Developed ex US, and emerging markets since 1985 and let me know what you think OP https://twitter.com/Callum_Thomas/status/1297285337811746816?s=20 You can decide for yourself if this information is useful. To my eye this information has been useful f...
by asif408
Fri Aug 21, 2020 1:53 pm
Forum: Investing - Theory, News & General
Topic: Will Nasdaq 100 (QQQ) Outperform VTI?
Replies: 72
Views: 3866

Re: Will Nasdaq 100 (QQQ) Outperform VTI?

The economy has made a fundamental shift. And comparing Tech companies to Japanese stocks, oil, or any other "hot investment" in past years is not a fair comparison. Why not? They are the sexy picks now just like all those mentioned were at one time. What's done better than US tech stocks the last ...
by asif408
Fri Aug 21, 2020 1:05 pm
Forum: Investing - Theory, News & General
Topic: If International, what specifically?
Replies: 88
Views: 7240

Re: If International, what specifically?

My biggest international holdings are PXH (emerging markets value) and AVDV (international small cap value). I've also held plain old VTIAX (total international) and VEMAX (emerging markets index), but shifted to a more value heavy portfolio in recent years. I'm not sure you'd like these, though, th...
by asif408
Fri Aug 21, 2020 12:52 pm
Forum: Investing - Theory, News & General
Topic: When comparing CAPEs of different countries, aren't you comparing apples to oranges?
Replies: 21
Views: 903

Re: When comparing CAPEs of different countries, aren't you comparing apples to oranges?

Sector composition actually explains why low rates didn't cause multiple expansion in Europe/Japan vs US. Can you link to research that shows that? Vanguard International Growth Fund is up 22.44% since Feb 19. It's P/E is 33.4x That's an interesting fund because it has a 13% stake in US equities, a...
by asif408
Fri Aug 21, 2020 10:37 am
Forum: Investing - Theory, News & General
Topic: Tilting to International
Replies: 178
Views: 14559

Re: Tilting to International?

Does he post the actual data anywhere? Might have to ask him directly, I haven't seen it. But you can see on the Bogleheads wiki (which is outdated somewhat) that the 38 year period from 1970-2007 a portfolio that included any percentage of foreign stocks outperformed a US only portfolio: https://w...
by asif408
Fri Aug 21, 2020 8:35 am
Forum: Investing - Theory, News & General
Topic: Will Nasdaq 100 (QQQ) Outperform VTI?
Replies: 72
Views: 3866

Re: Will Nasdaq 100 (QQQ) Outperform VTI?

OP, Can you let me know how investing in the following turned out the following decade or two if you invested in them. All the below listed were the stars of the prior decade: 1) Buying nifty fifty stocks in 1970 2) Buying oil company stocks and precious metals/PME in 1980 3) Buying Japanese stocks ...
by asif408
Fri Aug 21, 2020 8:20 am
Forum: Investing - Theory, News & General
Topic: When comparing CAPEs of different countries, aren't you comparing apples to oranges?
Replies: 21
Views: 903

Re: When comparing CAPEs of different countries, aren't you comparing apples to oranges?

I wouldn't compare Turkey and Switzerland. Rates are higher in the former because of the lower bonds grade. I was thinking of developed nations, with high quality bonds, and of the US vs Europe in particular, and remembering an interview by Ray Dalio where he said that the ECB would have less room ...
by asif408
Thu Aug 20, 2020 3:45 pm
Forum: Investing - Theory, News & General
Topic: Tilting to International
Replies: 178
Views: 14559

Re: Tilting to International

+1 I would like to see that 100 year underperformance data too. If evidence is conclusive and verifiable I may actually tilt more towards US. Personally, I work here, I live here, I intend to retire here but I do not invest everything in here. I do not want to take unnecessary sovereign risk of a s...
by asif408
Thu Aug 20, 2020 2:39 pm
Forum: Investing - Theory, News & General
Topic: When comparing CAPEs of different countries, aren't you comparing apples to oranges?
Replies: 21
Views: 903

Re: When comparing CAPEs of different countries, aren't you comparing apples to oranges?

I used to think that too; however the fact that Europe and Japan have even lower interest rates than the US means that Central Banks would have less margin to intervene in case of a crisis (since how much could they push interests further down, to stimulate the economy?) so perhaps those areas are ...
by asif408
Thu Aug 20, 2020 2:33 pm
Forum: Investing - Theory, News & General
Topic: When comparing CAPEs of different countries, aren't you comparing apples to oranges?
Replies: 21
Views: 903

Re: When comparing CAPEs of different countries, aren't you comparing apples to oranges?

One thing I don't understand is that people investing large sums of money in the stock market are pretty smart, and this data on CAPE is widely known. So if it's just a question that lower CAPEs (relative to historical averages say) forecast higher likely returns, why are these smart people continu...
by asif408
Thu Aug 20, 2020 1:46 pm
Forum: Investing - Theory, News & General
Topic: When comparing CAPEs of different countries, aren't you comparing apples to oranges?
Replies: 21
Views: 903

Re: When comparing CAPEs of different countries, aren't you comparing apples to oranges?

Let's assume you are correct. I grant you that a country like, for example Russia, might have a significantly lower CAPE ratio than the US because of all the risks associated with investing in Russia. One solution would be to compare individual valuations to their own historical norms. So, for examp...
by asif408
Thu Aug 20, 2020 9:34 am
Forum: Investing - Theory, News & General
Topic: March 26th 2000; "value investing has been supplanted by the internet revolution"
Replies: 14
Views: 1005

Re: March 26th 2000; "value investing has been supplanted by the internet revolution"

You have to be really dumb to equate these things. Look at the negative yielding bonds for instance. I know I have been harping on it for a while now but it is important to understand interest rates are gravity. When you have 13 trillion dollar worth of negative yielding bonds valuations should go ...
by asif408
Thu Aug 20, 2020 9:07 am
Forum: Investing - Theory, News & General
Topic: March 26th 2000; "value investing has been supplanted by the internet revolution"
Replies: 14
Views: 1005

Re: March 26th 2000; "value investing has been supplanted by the internet revolution"

You have to be really dumb to equate these things. Look at the negative yielding bonds for instance. I know I have been harping on it for a while now but it is important to understand interest rates are gravity. When you have 13 trillion dollar worth of negative yielding bonds valuations should go ...
by asif408
Wed Aug 19, 2020 12:05 pm
Forum: Investing - Theory, News & General
Topic: "The Great American Bond Bubble" by Jeremy Siegel And Jeremy Schwartz
Replies: 54
Views: 3728

Re: "The Great American Bond Bubble" by Jeremy Siegel And Jeremy Schwartz

abuss368 wrote: Wed Aug 19, 2020 11:40 am I believe that any short or intermediate term investment grade bond fund will provide safety and income to a portfolio.
Short term bond funds currently yield about 0.4% and intermediate term bond funds about 1.1%. So they will likely provide safety, but income will be limited.
by asif408
Wed Aug 19, 2020 9:51 am
Forum: Investing - Theory, News & General
Topic: "The Great American Bond Bubble" by Jeremy Siegel And Jeremy Schwartz
Replies: 54
Views: 3728

Re: "The Great American Bond Bubble" by Jeremy Siegel And Jeremy Schwartz

. . . Can't speak to their prediction, but I have to say the starting yields did a decent job predicting returns. . . . [This is not a criticism, just a question.] I still run into idiomatic English that I don't really understand. Can someone please explain what the phrase "I have to say" changes t...
by asif408
Tue Aug 18, 2020 2:38 pm
Forum: Investing - Theory, News & General
Topic: Nearly all gains from the S&P 500 are from Tech stocks is this normal?
Replies: 44
Views: 5154

Re: Nearly all gains from the S&P 500 are from Tech stocks is this normal?

It's not abnormal. There are typically sectors and/or countries that dominate market performance over a decade and become a large part of an index. The Nifty Fifty did it in the 60s, oil companies did it in the 70s, Japanese stocks did it in the 80s, tech stocks did it in the 90s, commodities and em...
by asif408
Tue Aug 18, 2020 10:13 am
Forum: Investing - Theory, News & General
Topic: "The Great American Bond Bubble" by Jeremy Siegel And Jeremy Schwartz
Replies: 54
Views: 3728

Re: "The Great American Bond Bubble" by Jeremy Siegel And Jeremy Schwartz

Can't speak to their prediction, but I have to say the starting yields did a decent job predicting returns. 5-7 year Treasuries, which total bond held a decent amount of, yielded 2.5%-3.5% in August 2010, and the return of the last decade was 3.7%, boosted a bit by falling rates. So no real surprise...
by asif408
Tue Aug 18, 2020 7:37 am
Forum: Investing - Theory, News & General
Topic: Behavioral Reasons to Avoid SCV/Factor Strategies
Replies: 148
Views: 8167

Re: Behavioral Reasons to Avoid SCV/Factor Strategies

It sounds like #7 was your biggest issue, you overestimated your willingness & ability to take risk. At least you learned where you stand emotionally and should be better prepared for the future. I would just hope you don't jump back on the SCV bandwagon if it begins to outperform again. Most people...
by asif408
Fri Aug 14, 2020 9:20 am
Forum: Investing - Theory, News & General
Topic: Should I change my AA now? Is this 'capitulating'?
Replies: 12
Views: 1048

Re: Should I change my AA now? Is this 'capitulating'?

Very roughly, I have around 50% in Europe (of which perhaps 35% in the Eurozone), roughly 20% EM, below 20% US, and the rest in Japan and Pacific countries. It's interesting that you are so underweight in US stocks, I mean you are in the US right? Do you have doubts sometimes that perhaps valuation...
by asif408
Fri Aug 14, 2020 8:45 am
Forum: Investing - Theory, News & General
Topic: Should I change my AA now? Is this 'capitulating'?
Replies: 12
Views: 1048

Re: Should I change my AA now? Is this 'capitulating'?

I would vote for #1. I'm also heavy on international (85% of my holdings, with the other 15% in US). I've had it this way for the last 3 years or so, and I continue to be patient for a turn in performance. I don't know how much you have in the Eurozone, but if it is all of the other 80% you could co...
by asif408
Thu Aug 13, 2020 2:11 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 3124
Views: 229268

Re: Small Cap Value heads Rejoice !!!

https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=2&startYear=1985&firstMonth=1&endYear=2020&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absolu...
by asif408
Thu Aug 13, 2020 10:14 am
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 3124
Views: 229268

Re: Small Cap Value heads Rejoice !!!

https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=2&startYear=1985&firstMonth=1&endYear=2020&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absolu...
by asif408
Thu Aug 13, 2020 9:37 am
Forum: Personal Investments
Topic: Precious metal equity
Replies: 17
Views: 903

Re: Precious metal equity

I think it's a terrible choice if you want PME exposure, you can see my prior thread here as to why: https://www.bogleheads.org/forum/viewtopic.php?t=255006. Bottom line is that they changed the strategy in 2018 and it no longer behaves like a PME fund. I'd recommend GDX (which is primarily a gold m...
by asif408
Tue Aug 11, 2020 1:25 pm
Forum: Investing - Theory, News & General
Topic: Silver: The Forgotten Precious Metal?
Replies: 88
Views: 4929

Re: Silver: The Forgotten Precious Metal?

Silver in the house of pain today. -7.44% silver vs -4.36% gold. Volatility clustering is apparently alive and very well. Can you explain what you mean by "Volatility clustering"? Thanks Not Will here, but I think he is referring to the fact that very high return days and very low return days tend ...
by asif408
Mon Aug 10, 2020 9:43 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 3124
Views: 229268

Re: Small Cap Value heads Rejoice !!!

After that two-day spread against large-growth, I am disappointed this thread hasn't had any new posts... let's rejoice! :sharebeer I’m worn out from the weekend and also spent some time today examining the performance of my international holdings for the last several years. :oops: At least since 2...
by asif408
Mon Aug 10, 2020 2:06 pm
Forum: Investing - Theory, News & General
Topic: Why not Vanguard U.S. Growth Fund?
Replies: 41
Views: 4566

Re: Why not Vanguard U.S. Growth Fund?

Why not Vanguard U.S. Growth Fund (VWUAX)? This fund has consistently outperformed the S&P and VTSAX. The ER isn't bad for being an actively managed fund. It is not the most tax efficient (41% turnover), so it would best be positioned in a tax advantaged account. Why not hold VWUAX along with VTSAX...
by asif408
Mon Aug 10, 2020 12:45 pm
Forum: Investing - Theory, News & General
Topic: Why not Vanguard U.S. Growth Fund?
Replies: 41
Views: 4566

Re: Why not Vanguard U.S. Growth Fund?

abuss368 wrote: Mon Aug 10, 2020 12:11 pm The ageless debate (second to US v. International) of Growth v. Value. Styles flow in and out of favor.
At least we know international never flows in favor. USA, USA!!!
by asif408
Mon Aug 10, 2020 11:03 am
Forum: Investing - Theory, News & General
Topic: Silver: The Forgotten Precious Metal?
Replies: 88
Views: 4929

Re: Silver: The Forgotten Precious Metal?

[That leads me to wonder whether (1) gold is overpriced relative to silver or (2) silver is under-priced relative to gold. Some of that delta has closed in the last few months in that silver has appreciated in value considerably more than has gold. Pretty much: https://www.macrotrends.net/1441/gold...
by asif408
Fri Aug 07, 2020 8:59 am
Forum: Investing - Theory, News & General
Topic: Gold continues to soar!
Replies: 256
Views: 15518

Re: Gold continues to soar!

This thread would get more enthusiasm if it were US gold that continues to soar. :twisted: All this optimism on gold has made me glad I've reduced my precious metals equity allocation in the last few weeks and thrown the profits into international value equities. At least there I don't have to worr...
by asif408
Thu Aug 06, 2020 3:35 pm
Forum: Investing - Theory, News & General
Topic: Broad commodity investing with iShares CMDY ETF
Replies: 53
Views: 2163

Re: Broad commodity investing with iShares CMDY ETF

Really tough comparison here. GDX/FILL combine to give you gold and oil, so it's not an apples-to-apples comparison with CMDY (or USCI) which are well-balanced with farm products, too. The backtest you link doesn't hit an inflationary period, as you note, so it's not too useful. The last inflationa...
by asif408
Thu Aug 06, 2020 3:11 pm
Forum: Investing - Theory, News & General
Topic: Broad commodity investing with iShares CMDY ETF
Replies: 53
Views: 2163

Re: Broad commodity investing with iShares CMDY ETF

Really tough comparison here. GDX/FILL combine to give you gold and oil, so it's not an apples-to-apples comparison with CMDY (or USCI) which are well-balanced with farm products, too. The backtest you link doesn't hit an inflationary period, as you note, so it's not too useful. The last inflationa...
by asif408
Thu Aug 06, 2020 2:51 pm
Forum: Investing - Theory, News & General
Topic: Broad commodity investing with iShares CMDY ETF
Replies: 53
Views: 2163

Re: Broad commodity investing with iShares CMDY ETF

OP, Why not just go with funds that invest in the stocks of commodity producers? Those funds have more data backing up their use as a short to medium term inflation hedge. Unfortunately, most of the commodity ETFs utilize futures, which have the issues of contango that have been thoroughly discusse...
by asif408
Thu Aug 06, 2020 2:09 pm
Forum: Investing - Theory, News & General
Topic: Broad commodity investing with iShares CMDY ETF
Replies: 53
Views: 2163

Re: Broad commodity investing with iShares CMDY ETF

That's a reasonable option, but, I wanted balanced one-stop shopping for all commodities including agriculture. Regarding contango, that's a MAJOR reason why I'm leaning toward the CMDY ETF. Check out the methodology here (from OP): https://data.bloomberglp.com/indices/sites/2/2016/01/BCOM_Roll_Sel...
by asif408
Thu Aug 06, 2020 1:43 pm
Forum: Investing - Theory, News & General
Topic: Broad commodity investing with iShares CMDY ETF
Replies: 53
Views: 2163

Re: Broad commodity investing with iShares CMDY ETF

That's a reasonable option, but, I wanted balanced one-stop shopping for all commodities including agriculture. Regarding contango, that's a MAJOR reason why I'm leaning toward the CMDY ETF. Check out the methodology here (from OP): https://data.bloomberglp.com/indices/sites/2/2016/01/BCOM_Roll_Sel...
by asif408
Thu Aug 06, 2020 1:35 pm
Forum: Investing - Theory, News & General
Topic: Broad commodity investing with iShares CMDY ETF
Replies: 53
Views: 2163

Re: Broad commodity investing with iShares CMDY ETF

OP, Why not just go with funds that invest in the stocks of commodity producers? Those funds have more data backing up their use as a short to medium term inflation hedge. Unfortunately, most of the commodity ETFs utilize futures, which have the issues of contango that have been thoroughly discussed...
by asif408
Thu Aug 06, 2020 10:25 am
Forum: Investing - Theory, News & General
Topic: How do the tech giants exceed expectations so consistently?
Replies: 25
Views: 2084

Re: How do the tech giants exceed expectations so consistently?

Working in technology, I thought it was better to have a portfolio that was tech sector heavy when I found this forum back in 2011. I am very thankful for everything I learned here because I was absolutely new to investing but one of the worst pieces of advice that was always reiterated here was do...
by asif408
Tue Aug 04, 2020 2:35 pm
Forum: Investing - Theory, News & General
Topic: Why are gold and long-term treasuries simultaneously rising?
Replies: 10
Views: 514

Re: Why are gold and long-term treasuries simultaneously rising?

Long-term treasuries are up 26% TYD, presumably because inflationary expectations have fallen. Gold is up 30% YTD, presumably because inflationary expectations have increased. Explain. Most of the LTT return came in the first few months, while gold's rise came in the last 3-4 months. Contrary to po...
by asif408
Mon Aug 03, 2020 12:22 pm
Forum: Investing - Theory, News & General
Topic: Who's doing 100% international equity?
Replies: 129
Views: 17871

Re: Who's doing 100% international equity?

http://www.fortunefinancialadvisors.com/blog/the-limits-of-cape-analysis-for-global-market-rotation "Consider the case of Sweden which, hit a Japan-like CAPE high of 79 in early 2000. At the same time, the U.S. was also at its all-time high, but seemingly a relative bargain at just 47. Since then t...