Dear Superinvestor Bulletin Follower,
What is the Relative CAPE?
It is a simple formula from Doubleline which is used to determine which sectors are most attractively valued.
Here is the formula:
Current Sector CAPE Ratio / 20 Year Rolling Average Sector CAPE Ratio
The larger the number the less attractive the sector valuation is relative to the 20 year rolling average.
Here is what Doubleline's measure shows today:
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