“Stocks are cheap by historical standards” is the latest fiction being promoted by valuation geeks. Is it true?
Meb Faber, proprietor of the Cambria Global Value ETF (NYSEARCA:GVAL), and a valuation guru tweeted the 5-year CAPE ratio for the usually frothy technology sector (NYSEARCA:XLK) is just 22 today compared to an elevated 96 at the height of the dotcom boom back in March 2000.
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