What Nobel Prize-winning economist Robert Shiller thinks about the stock market right now 🧐
'I'm not that alarmed' 👍
In a wide-ranging conversation with DoubleLine Capital CIO Jeffrey Sherman at the Wealth Management EDGE conference on Wednesday, Shiller addressed the current state of the widely-followed cyclically adjusted price-earnings (CAPE) ratio for the S&P 500.1
“It has come down into the low 30s,” he said. “It kind of puts us where we were in other times in history that were relatively extreme.”
“But you know, the stock market has performed very well over the last 100 years,” he added. “I like to look at long-term time horizons. And so when it's highly priced, it doesn't necessarily make it a horrible investment.”2
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