I’ve posted Entry #216 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Did Shiller Change Anything?
Juicy Excerpt: But how much has the conventional advice on how to invest in stocks changed as a result of the “revolutionary” research that Shiller published in 1981 (and that has been confirmed many times in the three decades since).
Not at all.
If you are able to identify any changes, I’d be grateful if you would point me to them. My sense is that everything is pretty much the same. Shiller’s ideas have not been debated or discredited in any way. They have been ignored.