While many investors fret about lofty stock valuations, the man who literally wrote the book on how to value stocks believes that ETFs like the PowerShares QQQ (NASDAQ:QQQ) might actually be cheap.
Nobel Prize in Economic Sciences winner Robert Shiller, who created the cyclically adjusted price-to-earnings (CAPE) ratio, told the audience at the annual CFA Institute conference in Philadelphia that he “would be inclined to recommend” what he sees as undervalued stocks.