Yale professor Robert Shiller correctly predicted the bubble in tech stocks at the turn of the millennium and the housing bubble in the middle part of the last decade, so he knows a little something about bubbles.

When I interviewed him last week in front of a live audience at Motley Fool Headquarters, I asked him if he saw a bubble in... pundits making bubble predictions. Shiller, author of the new book Finance and the Good Society, explains the etymology of the word "bubble" and why he's trying to avoid using the term for now. (Running time is 1:55; a transcript is provided below.)