The recent era of the speculative investment bubbles may be at an end, says one of the world's pre-eminent bubble-watchers.
Robert Shiller, who predicted both the tech and housing flameouts with near-perfect accuracy, says it may be a generation before the world sees another major bubble -- such is the damage wrought by the U. S. housing bust.
Psychology, the key ingredient that drives all bubbles, simply will not be upbeat enough to foster a new mania.
More available here in the Financial Post.
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