Part 4/8:
The Schiller P/E ratio's prediction of negative returns above a certain threshold is largely disregarded in modern contexts, indicating that many established financial models fail over time. Additionally, we find ourselves in a psychological conflict; our minds yearn for control in an environment inherently shrouded in unpredictability. As a result, many investors engage in elaborate technical analyses that lack substantive rationale, all in pursuit of a semblance of control over their investments.