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Professor Bubble

Contributed by mm | November 19, 2003 11:50 AM PST

In this Forbes article Noble economics laureate Vernon Smith argued that another stock market crash is not imminent because "the memories of the 2000 debacle are too fresh for investors to spin out of control this time."

I'll take that advice with a grain of salt. I really cannot understand the high P/E of the market right now. I don't believe in theories that this time it is "unique." If I have to bet, I'll bet against the market for the next 12 months.

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Read all 67 articles in the same category.

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Read More ... 67 Posts In The Same Category

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