Prof. Robert Shiller is voicing concerns over multiple factors right now, including the high CAPE ratio (the P/E of the market using 10 years’ worth of earnings) and the increased volatility in stocks. The large downward moves recently in equities have led many investors to pay much closer attention to the market’s daily movements, especially on down days. This hyper-attention to downside volatility could result in another move down as investors sell or react to what is transpiring. In addition, earnings growth has been strong over the last few years and Shiller warns that growth could start to slow and be more in line with historical growth rates as margins contract. Although Shiller is much more concerned about the market than many other pundits, he admits that stocks can continue to move higher despite the many risk factors that concern him. View the full video of his comments below.