One Economist's Mission to Redeem the Field of Finance
Found via The Big Picture.
Among the members of the rogues' gallery blamed for the crash of the economy in 2008, none have worn the black hat of villainy quite as convincingly as greedy financiers.
Robert J. Shiller, however, sees them and their field in shades of gray.
"It's kind of a mythology that's developed around finance," says Mr. Shiller, a behavioral economist, professor at Yale University, and teacher of many future financiers. Rapacious Wall Street types, he says, may make handy bad guys in the movies. "The problem is, we can't live in a mythic world. We have to live in the real world."
And in the real world, Mr. Shiller argues in his new book, Finance and the Good Society (Princeton University Press), finance is a powerful and necessary tool to keep society running.
It is the architecture that allows people to reach their goals, such as paying for college or starting a business, and to protect their assets throughout their lives.
...................
Related book: Finance and the Good Society
- Links
Howard Marks of Oaktree on the Criteria for Long-Term Success in Investing (video) (LINK) Berkshire Hathaway 13F: Buys Deere; Sells Exxon (LINK) Jack Bogle's success principles to live by [H/T Matt] (LINK) Credit Suisse Global Investment Returns Yearbook...
- Gundlach Dips Toe Into Uber-indexing
DoubleLine Capital LP plans to launch an enhanced index fund based on Yale University economics professor Robert Shiller's cyclically adjusted price-earnings ratio. The DoubleLine Shiller Enhanced CAPE Fund will use derivatives — either swaps...
- Shiller Sees No Major Rally In U.s. Housing Market
Feb. 6 (Bloomberg) -- Robert Shiller, a professor at Yale University and co-creator of the S&P/Case-Shiller index of property values, talks about the outlook for the U.S. housing market. Robert Wolf, chief executive officer of 32 Advisors LLC and...
- Buttonwood: Back To The Shiller P/e
ONE key reason why I have been pessimistic about the outlook for the US stockmarket is based on the use of the Shiller price-earnings ratio. Ben Graham, the doyen of securities analysis, devised a version of this measure, but it has become associated...
- Robert Shiller On Housing (video)
Robert Shiller, a professor of economics at Yale University and co-creator of the Standard & Poor's/Case-Shiller Index, says the market has "a chance" of rebounding even though the downward momentum in the real estate market has accelerated in...