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Bubble indicators for the stock market aren't flashing red yet Add to ...

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Is this the time to run in the opposite direction from an overvalued U.S. stock market that depends on a long-in-the-tooth recovery and the dubious merits of Trumponomics to keep going even higher?

Common sense suggests the answer is yes. But research begs to differ.

Three Harvard academics – Robin Greenwood, Andrei Shleifer and Yang You – argue that a big run-up in stock prices doesn’t necessarily mean investors are doomed to future disappointment.

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