Tuesday, April 3, 2012

"Robert Shiller Eyes Another Tech Bubble: “There’s Going to Be Huge Fortunes Made'"

This is a week old but as a reader pointed out "a reason to post that song by the Richter Scales".
From Yahoo's Daily Ticker:
Barring a big decline in the next three days, the stock market is on track for its best first quarter since 2008 and back-to-back quarterly gains of more than 10%.

The market's performance in the past three and six months -- much less the past three years -- has generated a lot of chatter about stocks having run "too far, too fast." In addition, a string of IPOs by social media companies and Apple's incredible surge have spurred whispers of another "bubble" brewing in stocks.
To be sure, it's a long way from 1999 -- when scads of money-losing dot.coms went public with outrageous valuations and "everybody" was getting rich day trading. Still, there is "a chance of another tech bubble," according to one of the world's foremost authorities on the subject: Yale Professor Robert Shiller.
"Technology has a fascination...it's part of our sense of the future," he says. "We've got an exciting thing going. All the new gadgets are just so breathtaking, there's going to be huge fortunes made. That kind of excitement I do feel in the air."

Having said that, Shiller is not predicting another tech bubble, far from it. He says predicting bubbles is impossible: "It's like predicting an epidemic. It depends on the contagion of emotions and of ideas."...MORE, including video.
Speaking of video: