Nobel laureate and Yale economics professor Robert Shiller is considering getting out of US stocks.
In an interview on CNBC’s Squawk Box on Wednesday, Shiller, who famously predicted both the dot-com and housing bubbles, said he’s more interested in Europe right now.
“I’m thinking about getting out of the United States, somewhat,” he said in the interview. “Europe is so much cheaper.”
Shiller said he’s already investing in Italian and Spanish indexes, and attributed “pricey” stocks in the US to low long-term interest rates.
“It is just stunning how low they have gotten,” he said.
This is a slight change of tone from November 2014, when Shiller told CNBC he was “still in the market” despite its priciness.
Currently, Shiller said, about half of his money is in equities. He is not hedging currencies.