Finland Is Most Overpriced Market According To ‘Fair CAPE’ Valuations
Stock prices in the US are the highest in the developed world by some measures, but markets are more overpriced in Finland, Belgium, and Ireland according to Wellershoff & Partners CIO Joachim Klement in his 2015 update to CAPE Around the World. In addition to calculating the regular CAPE (cyclically adjusted PE) multiples for 38 different countries, Klement uses a combination of interest rates, growth rates, and inflation to estimate what a ‘fair’ CAPE would be for each country. He . . .
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