Valuation-Informed Indexing #383: Eight Implications of Shiller’s Finding That Valuations Affect Long-Term Returns

I’ve posted Entry #383 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Eight Implications of Shiller’s Finding That Valuations Affect Long-Term Returns.

Juicy Excerpt: If stock investing risk is variable, investors who care to can minimize their lifetime investing risk by investing in stocks to the same extent as Buy-and-Hold investors over the course of a lifetime but investing more heavily in them at times when risk is low and by investing less heavily in them when risk is high. Stock investing risk is to a large extent optional for investors open to taking valuations into consideration when setting their stock allocations.