Irrational Exhuberance
Schiller argues that stock markets have gone too far and won't go anywhere for the next ten years. Two of the supporting graphs in this book (stock prices and earnings 1871-2000 and price-earnings ratio 1881-2000) are very similar to the ones included in my June 5 message to you.
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Irrational Exhuberance
was published on June 20th, 2000
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