A fund manager beating 99% of his peers over the last 10 years shares 2 ‘historically’ cheap trades to make right now as high stock valuations set the market up for years of dismal returns

• Stock valuations are high, especially in the tech sector. 
• But opportunities still exist in this market, says Meb Faber. 
• In a client note, Faber said he likes US value and international value stocks. 

As the S&P 500 hovers near its all-time highs, valuations are historically elevated.