Trump does magic. Maybe it will be black magic sometime, but he’s an amazing phenomenon. Robert J. Shiller Read Quote
Money management has been a profession involving a lot of fakery – people saying they can beat the market, and they really can’t. Robert J. Shiller Read Quote
The future is always coming up with surprises for us, and the best way to insulate yourself from these surprises is to diversify. Robert J. Shiller Read Quote
Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict. Robert J. Shiller Read Quote
We don’t know the probabilities of future events. Still, you have to take action, and so you do it on gut feeling. That’s the world we live in. Robert J. Shiller Read Quote
Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a few professional economists to forecast the episode – the aftereffects of which still linger – has led many to question whether the economics profession contributes anything significant to society. Robert J. Shiller Read Quote
I think that a lot of people in all walks of life have the impression, of course, that, ‘I specialize in something. I can’t – I don’t have the time to read other things. I’ll just go to pure entertainment when I’m relaxing, and then I’ll come back to my pure specialty.’ That produces – that attitude produces idiot savants, unfortunately. Robert J. Shiller Read Quote
In my first few years of elementary school at the Edison School in Detroit, I did poorly. I remember worrying that I might fail the second grade and be held back. Robert J. Shiller Read Quote
This is the paradox of thrift: belt-tightening causes people to lose their jobs, because other people are not buying what they produce, so their debt burden rises rather than falls. Robert J. Shiller Read Quote
There’s so much disagreement about investing, and it’s because nobody really knows. Robert J. Shiller Read Quote
