The SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA) is showing a slightly cheaper valuation, with a P/E of 15.3.
“We don’t know what it’s going to do,” Shiller added. “Realistically, stocks should be in one’s portfolio but maybe lighten up.”
While Shiller may be sounding a warning, he argues that investors shouldn’t abandon the equities market altogether. [Don’t Let New Highs Scare You Away From Stock ETFs]
“I’m still in the market,” Shiller said, according to Business Insider. “But I’m thinking of pulling back somewhat.”
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Max Chen contributed to this article.