From the Strategy of Simone Wapler (France) – Most professional investors deny any sort of “bubble” in the equity market. Prices, they say, are rational and justified. They’ve forgotten the basic lesson taught by Robert Shiller.
To other observers, the equity markets are at levels of pre-crash, as indicated by the P / Case-Shiller profit that is at 27.06.
This is a ratio that takes into account the results adjusted for inflation over the past decade.
The historical average of this ratio is 16.69 and its maximum was reached in 1999 to 44.19.
The conclusion? Don’t get anything sharp near this bubble.