Based on data going back to the 1929 crash, this current bubble looks like a particular kind that can produce large, sudden losses for investors. The market right now is especially susceptible to a sharp correction, or worse.....The chart below shows the CAPE from 1870 to 2017. Two conclusions emerge immediately. The CAPE today is at the same level as in 1929 just before the crash that started the Great Depression. The second is that the CAPE is higher today than it was just before the Panic of 2008.