Shiller PE Ratio Near 1929 Peak, Above 2007 Peak

Yale professor Robert Shiller's P/E ratio, or Cyclically Adjusted P/E Ratio (CAPE), which is price divided by the "average inflation-adjusted earnings from the previous 10 years," (multpl.com) is also above the high in 2007, but is still way below the highs made in 1999-2000.

(Source: Multpl.com)

Here are Robert shiller's views of stock valuations right now via CNBC. He also said the CAPE ratio is "at the point where stocks look like over the long-haul, over the next 10 years, they might underperform 10-year treasuries."