History suggests stock market crash not imminent – Goetzmann

Stock market bubbles have seldom burst, says Yale economist

William Goetzmann
Examples of undue haste to exit a position go as far back as the Age of Exploration, says William Goetzmann

Stock prices might look frothy, low volatility remains something of a mystery to many and sharp momentum reversals betray a market on tenterhooks, but the lesson from history is not to fret, according to a leading expert on market bubbles.

US equity valuations measured by cyclically adjusted price/earnings ratios have reached their highest level since 2000 and the second highest in over 100 years. But William Goetzmann, a Yale economist who has written extensively on financial history, says

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