Historically (link), Shiller's P/E ratio (CAPE) looks high (Sept 24, 2019) but if I really knew I wouldn't be teaching school...and I probably wouldn't tell you.Investopedia reports what Shiller (bubble-ologist) says: The developer of the CAPE ratio, Nobel Laureate in economics Robert Shiller of Yale University, has been warning that current market valuations are unsustainable for the long run, as discussed in another Investopedia report. He is particularly concerned about "the public's lack of healthy skepticism about corporate earnings, together with an absence of popular narratives that tie the increase in earnings to transient factors," as he has written in an essay republished by MarketWatch.
[email protected] (Luke Froeb) considers the following as important: 11. Supply and demand: Trade bubbles market making
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Investopedia reports what Shiller (bubble-ologist) says: