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Category Archives: Gellin with Yellen


  Several metrics that are helpful in identifying over-priced stock markets are coming under heavy fire. One such metric is Robert Shiller’s cyclically-adjusted P/E (CAPE). Lately I’ve read more stories attacking the CAPE than I can remember. This chorus typically reaches a crescendo at/near secular stock market peaks as denialmeisters pound the table in obstinate refusal to accept the obvious. For reference purposes, here’s […] Read the rest of this entry »

Gellin with Yellen: more bubble

The center of attention yesterday was the Janet Yellen Fed Chairman confirmation hearing. The upshot is she’s every bit as inclined to continue letting this historic bubble grow — just as Greenspan and Bernanke have done on their watches. The clincher was when she said she did not see any asset bubbles.  This too is the same story that Greenspan and Bernanke had/have gone […] Read the rest of this entry »