Subject: CAPE and BRK
"The Cyclically Adjusted Price to Earnings Ratio, also known as CAPE or the Shiller PE Ratio, is a measurement from Robert Shiller. It adjusts past company earnings by inflation to present a snapshot of stock market affordability at a given point in time."

https://dqydj.com/shiller-pe-c...

Pointless, interesting, or what?

S&P500 CAPE is currently about 33. Interesting to me, it was also about 33 in January 1998, when I bought my first shares of Berkshire.

Berkshire performed significantly better than S&P500 since then. CAPE was also about 33 in June 2001, with the same result.

15 years ago, the S&P500 CAPE was 16, and S&P500 performed better than Berkshire since then.

Only three data points, of course, but could it be that relative valuation matters over the long term?

[Posted something similar (with pictures!) on the Fool]