By Stephen Gandel
December 31, 2014

It was another good year for investors. Some thought too good. The New York Times coined the term the “Everything Bubble.” Hedge funder Paul Singer said the market was so good it had to be faked. Noble prize-winning economist Robert Shiller called stocks “very expensive.” And yet all those warnings didn’t talk investors out of the market. Equities wobbled in the late summer and early fall. But the market regained its footing quickly, leaving Singer, Shiller, and others to worry about the possibility of a bust for another year.

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