Lo Shiller CAPE è esploso a 42×. È la nuova bolla dot-com?

The Shiller CAPE, the S&P 500 valuation thermometer invented by Nobel Prize winner Robert Shiller, has soared to 42x. It's the second-highest level ever. Only the dot-com bubble of 2000, at 44x, has done worse. And we all know how it went: thirteen years of negative real returns for those who bought at the peak. In this short video, Giovanni Picone takes you through the mathematics of stock multiples and explains what today's data is saying about the next 10 years of returns. What you'll learn: What multiples really are and why they matter Why a high multiple means betting on low future returns unless earnings exceed the bar The Nvidia case (multiple justified by growth) and the Microsoft case (P/E compression currently underway, from 35 to 20) The Shiller CAPE explained in 60 seconds: what it is, how it works, why the Nobel Prize winner invented it The "lost decade" 2000-2013: what really happened after the last peak at 44 and why it could happen again Michael Burry's argument (Big Short): hyperscalers' earnings are inflated by accounting choices on AI capex The alarm on P/E compression: if the 10-year Treasury hits 5%, the S&P could lose 10% just because of the multiple compression The opposing view: why Jensen Huang, Goldman Sachs, and McKinsey believes AI will raise the ceiling Three operational takeaways for investors TODAY 🔗 Subscribe to our NEWSLETTER at https://www.freefinance.biz/newsletter/