{"id":14961,"date":"2017-03-15T01:10:14","date_gmt":"2017-03-15T05:10:14","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=14961"},"modified":"2017-03-15T01:10:14","modified_gmt":"2017-03-15T05:10:14","slug":"why-robert-shiller-is-worried-about-the-trump-rally-bloomberg","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/15\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\/","title":{"rendered":"Why Robert Shiller Is Worried About the Trump Rally &#8211; Bloomberg"},"content":{"rendered":"<p>According to Bloomberg, Nobel Prize-winning economist, Robert Shiller, says he is not buying stocks at present:<\/p>\n<blockquote><p>&#8230;.One factor that makes him cautious on American shares is the S&amp;P 500\u2019s cyclically-adjusted price-earnings ratio: While the metric is still about 30 percent below its high in 2000, it shows stocks are almost as expensive now as they were on the eve of the 1929 crash.<\/p><\/blockquote>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-03-14\/as-trump-charms-wall-street-robert-shiller-gets-dot-com-deja-vu\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/03\/800x-1.png?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<blockquote><p>\u201cThe market is way over-priced,\u2019\u2019 he says. \u201cIt\u2019s not as intellectual as people would think, or as economists would have you believe.\u2019\u2019<\/p><\/blockquote>\n<p>Robert Shiller&#8217;s CAPE compares current prices to a 10-year moving average of inflation-adjusted earnings. That is likely to be distorted by losses incurred in 2009 which are more of a (hopefully) once-in-a-generation event.<\/p>\n<p>Source: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-03-14\/as-trump-charms-wall-street-robert-shiller-gets-dot-com-deja-vu\">Why Robert Shiller Is Worried About the Trump Rally &#8211; Bloomberg<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Bloomberg, Nobel Prize-winning economist, Robert Shiller, says he is not buying stocks at present: &#8230;.One factor that makes him cautious on American shares is the S&amp;P 500\u2019s cyclically-adjusted price-earnings ratio: While the metric is still about 30 percent below its high in 2000, it shows stocks are almost as expensive now as they &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/15\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Why Robert Shiller Is Worried About the Trump Rally &#8211; Bloomberg&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57],"tags":[],"class_list":["post-14961","post","type-post","status-publish","format-standard","hentry","category-stock-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Robert Shiller Is Worried About the Trump Rally - Bloomberg - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Robert Shiller Is Worried About the Trump Rally - Bloomberg - the patient investor\" \/>\n<meta property=\"og:description\" content=\"According to Bloomberg, Nobel Prize-winning economist, Robert Shiller, says he is not buying stocks at present: &#8230;.One factor that makes him cautious on American shares is the S&amp;P 500\u2019s cyclically-adjusted price-earnings ratio: While the metric is still about 30 percent below its high in 2000, it shows stocks are almost as expensive now as they &hellip; Continue reading &quot;Why Robert Shiller Is Worried About the Trump Rally &#8211; Bloomberg&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/15\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-15T05:10:14+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/03\/800x-1.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/03\\\/15\\\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/03\\\/15\\\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Why Robert Shiller Is Worried About the Trump Rally &#8211; 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Continue reading \"Why Robert Shiller Is Worried About the Trump Rally &#8211; Bloomberg\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/15\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2017-03-15T05:10:14+00:00","og_image":[{"url":"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/03\/800x-1.png","type":"","width":"","height":""}],"author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/15\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/15\/why-robert-shiller-is-worried-about-the-trump-rally-bloomberg\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"Why Robert Shiller Is Worried About the Trump Rally &#8211; 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Average levels for CAPE have shifted over time, and one cannot rely solely on historic highs and lows as a measure of whether the market is over-bought or over-sold.\u2026","rel":"","context":"In &quot;Market Insights&quot;","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11103,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/10\/13\/robert-shiller-maintains-exposure-to-stocks-wsj\/","url_meta":{"origin":14961,"position":1},"title":"Robert Shiller maintains exposure to stocks | WSJ","author":"ColinTwiggs","date":"October 13, 2014","format":false,"excerpt":"Jason Zweig writes: Many analysts have warned lately that Prof. Shiller\u2019s long-term stock-pricing indicator [CAPE] is dangerously high by historical standards.....If only things were that simple, Prof. Shiller says. \u201cThe market is supposed to estimate the value of earnings,\u201d he explains, \u201cbut the value of the earnings depends on people\u2019s\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15010,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/17\/robert-shiller-is-he-right-that-stocks-are-overpriced\/","url_meta":{"origin":14961,"position":2},"title":"Robert Shiller: Is he right that stocks are overpriced?","author":"ColinTwiggs","date":"March 17, 2017","format":false,"excerpt":"I frequently come across stocks such as Netflix [NFLX], trading on a forward PE of 137 (Morningstar), or even Coca Cola [KO] and Procter & Gamble [PG] that leave me muttering about unrealistic valuations. Nobel laureate Robert Shiller this week commented that he was no longer buying stocks as he\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10038,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/06\/18\/robert-shiller-cape-should-not-be-used-as-a-market-timing-mechanism\/","url_meta":{"origin":14961,"position":3},"title":"Robert Shiller: CAPE should not be used for market timing","author":"ColinTwiggs","date":"June 18, 2014","format":false,"excerpt":"From an interview with Robert Shiller in January 2013: Blodget: ....one frustration a lot of people have with the cyclically adjusted P\/E and others is that it\u2019s not particularly helpful for the timing mechanism, do you think it\u2019s good to use as a sort of projected 10-year return, where when\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16054,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/12\/17\/pemax-second-highest-peak-in-last-100-years\/","url_meta":{"origin":14961,"position":4},"title":"PEMAX second highest peak in 100 years","author":"Colin Twiggs","date":"December 17, 2017","format":false,"excerpt":"I published a chart of PEMAX for the last 30 years on Saturday. PEMAX eliminates the distortion caused by cyclical earnings fluctuations, using the highest earnings to-date rather than current earnings. The idea being that cyclical declines in earnings reflect a fall in capacity utilization rather than a long-term drop\u2026","rel":"","context":"In &quot;Earnings &amp; Dividends&quot;","block_context":{"text":"Earnings &amp; Dividends","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/earnings-dividends\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17741,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/15\/pemax-why-you-should-be-cautious-using-robert-shillers-cape\/","url_meta":{"origin":14961,"position":5},"title":"PEmax and why you should be wary of Robert Shiller&#8217;s CAPE","author":"Colin Twiggs","date":"January 15, 2019","format":false,"excerpt":"Robert Shiller's groundbreaking works, Irrational Exuberance and Animal Spirits, led to a Nobel prize in 2013 but we need to be careful of placing too much reliance on his CAPE as an indicator of stock market value. What is CAPE? CAPE is the cyclically adjusted price-to-earnings ratio, normally applied to\u2026","rel":"","context":"In &quot;Earnings &amp; Dividends&quot;","block_context":{"text":"Earnings &amp; Dividends","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/earnings-dividends\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=14961"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14961\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=14961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=14961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=14961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}