I'm seriously thinking about heeding Faber and putting a large part of my money in low CAPE countries - the evidence is pretty clear that buying cheap countries increases your expected return.
What countries are you considering? Is there a site that lists side by side capes for the world?
I subscribe to Meb Faber's newsletter - he puts out updates on all the countries of the world's capes.
Here are the 12 cheapest - all with CAPES 10.3 or lower. The US is the 2nd most expensive, at 25. That is a huge difference and worth exploiting, I think.
obvi a few aren't investable - but the others you can buy an etf for. Lord I love etfs - before them you couldn't really do this strategy.
I'm not answering the OP's questions - but if anyone with a familiar name wants to have a discussion I'll be happy to participate.