Assuming a low CAPE ratio in conjunction with stable inflation and improving corporate earnings, which of the following investment strategies is most justified under a long$-$term, valuation$-$based approach?

Group of answer choices

Overweighting equities relative to historical averages due to attractive valuation metrics

Rotating out of equities into cash to lock in gains before market volatility increases

Shifting into long$-$duration bonds in anticipation of declining interest rates