“Valuations are whacked.”
One year forward p/e is 22. Reasonable considering interest rates
That's a reasonable way to look at it, though I'd argue a forward P/E of 22 is still high by historical standards/averages that are more in the mid teens.
Now go look at CAPE 10. Second highest valuation IN HISTORY.
I personally think we are 40%+ over-valued at best. Unfortunately, I thought that coming into Jan with every intention of lightening up our already relatively small exposure to equities and moved too slowly - so didn't sell what I had hoped to sell at higher prices than we're at now..fortunately, we're very diversified and "only" down 3-4% YTD..but I have a bad feeling that there is a lot further to drop.