Is this irrational exuberance, or did investors finally absorb Professor Siegel's lesson?

"There is simply no relationship between corporate social responsibility and any financial measure of performance," Professor Siegel concluded.

Some have criticized Professor Siegel for being bullish on the stock market back in 2000.

"The fear contagion," Professor Siegel said, "could have a substantial effect on the markets."

"It could make it this year, but that is a long way to go," Professor Siegel said.

Professor Siegel is also an investor in the firm.

"We have found better indexed products with less risk" than the indexes, Professor Siegel said.

Professor Siegel is returning to teaching and research.

All he has to do, as Professor Siegel notes, is what he usually does with reporters: hire them.

"If that doesn't look like it's going to be done," Professor Siegel said, "there's a question of how much utilities would be hurt."