I think Someone got to Shiller and told him to “cool it with the reality stuff”.

“Summing it up, the market as a whole is priced for good long-term returns, but it could end up priced for great returns down the road. Meanwhile, certain sectors within the market are priced for great returns already.”

Rich Toscano
http://www.pcasd.com/us_stock_market_now_priced_for_good_returns

I think Rich got the memo too, peterb.