https://www.cnbc.com/2017/07/26/the-market-risk-that-makes-nobel-laureate-robert-shiller-lie-awake.html
The stock market is in a dicey conundrum whereby the PE ratio is high and the volatility is low. His CAPE (Shiller PE Ratio) predicts that the stock market will crash big time whenever it is high. The CAPE is above 30 now and the big crashes are all above 30.
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