The stock market has had a tremendous rally. Has it reached bubble territory?
Yes, according to housing "guru" Robert Shiller who apparently also is willing to opine on stocks.
Shiller defines a speculative bubble as a situation where news of rising prices only further induces the animal spirits of investors.
It seems that rather than basing his opinion of a bubble on actual valuation of the stock market, Shiller instead is focusing on the optimistic attitude of investors.
Yes, according to housing "guru" Robert Shiller who apparently also is willing to opine on stocks.
Shiller defines a speculative bubble as a situation where news of rising prices only further induces the animal spirits of investors.
It seems that rather than basing his opinion of a bubble on actual valuation of the stock market, Shiller instead is focusing on the optimistic attitude of investors.