May 23, 2012

HIGHER EDUCATION BUBBLE UPDATE: A College Bubble So Big Even The New York Times And 60 Minutes Can See It…Sort Of.

Key bit: “Wadhwa argues that U.S. colleges and universities are the best in the world. Maybe that’s true, but so what? U.S. homes were probably the best in the world too, but that doesn’t mean that we had no bubble. U.S. tech firms in the late 90s were the best in the world, but that didn’t mean they were reasonably valued. Bubble-ness is a factor of quality AND PRICE. The point is that there is no asset of such great quality that it is a good buy no matter how high the price goes. A college diploma is no exception to that rule.”

Yes. I make that very point myself.

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