Robert Shiller Thinks Bonds Are in a Bubble, but Doesn't Like to Use That Word
Shiller agrees with the recent comments made by Alan Greenspan and that there is an "irrational exuberance" in the stock market today, but he certainly does not think it is cheap.
The problem according to Shiller is that fixed income alternatives are definitely not attractive, which makes investing in stocks not a terrible option.
He isn't exactly pounding the table for stocks!
The big risk that Shiller sees to the stock market is if interest rates were to rapidly rise.