Hi Manlobbi,

I cannot overstate my appreciation for your tireless efforts and invaluable contributions to this board. Your dedication to single-handedly developing and maintaining this platform has created an exceptional resource for investors. Your insights have significantly enhanced my understanding of small cap vs. large cap valuations and expected performance.

However, I respectfully offer a different perspective on the utility of the chart you shared compared to absolute Shiller CAPE values.

Consider a hypothetical scenario where the S&P 500 yields 0% per annum over the next decade. The relative performance chart suggests the Russell 2000 might yield around 5% per annum in this case. However, this return alone wouldn't be sufficient to justify an investment in the Russell 2000 for my risk tolerance.

Conversely, if the mean historical Shiller CAPE and the current Shiller CAPE for the Russell 2000 are comparable (or if the historical mean exceeds the current value), I'd find that a lot more compelling. Such a scenario would suggest the potential for returns closer to the Russell 2000's historical performance (which I estimate to be around 10%, give or take).

Thank you again for fostering such an enlightening environment for investment discussion and analysis.