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Interesting, thanks Vicente.
There was an interview with Shiller here at:
http://www.cnbc.com/id/101930841
And the CNBC shill was asking him if what is considered "Normal" P/E shouldn't be altered upwards due to Tech Stocks being ~20% of the S&P. Shiller responded with Irving Fisher saying in the 1920s that what could be considered the Normal P/E ratio should be adjusted because of Chain Stores and Radios.
http://www.cnbc.com/id/101932062?trknav=homestack:topnews:9
#housing