Why Nobel-winning economist Robert Shiller isn’t fretting about a market selloff
September 19, 2017 at 10:01 AM EDT
If you ask a market bear why they’re feeling pessimistic about U.S. stocks, one of the first things they’re likely to mention is the CAPE, a measure of valuation devised by economist Robert Shiller, which is historically elevated levels. But as Shiller himself notes, the measure isn’t great for timing the market.