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I really battled to get into this book. I didn’t enjoy it at all. We all know that market bubbles exist and I really don’t think Robert Shiller added much to the discussion (I will no doubt come under fire here from all the fans out there). This was summed up for me in the last chapter when he listed things that could go wrong in the future. He listed every conceivable scenario in the world. While I agree that you need to consider all possibilities and investing is about probabilities, it is in
Don’t get me wrong. Robert Shiller is a very smart man but I really battled to enjoy this book. Not recommended.
really liked it
In the 2009 e-book version, Shiller wrote a very modest introduction about the Great Recession. If he wanted to be a bit more succinct, he could just have written “I fucking told you so!”
A book in the long tradition started by Extraordinary Popular Delusions and The Madness of Crowds, with a less fancy prose style and more uses of the price/earnings ratio. It was rather astonishing how right Shiller was. Although maybe it was the publication of this book which led to the crash of the e-commerce
This is a book that needs to be reread in order for the points to absorbed.
Shiller starts out with three chapters that present statistics showing that stocks and real estate are not investments that people can count on to earn a good long-run return. He shows that if people got into the market at the wrong time they could end up having to wait for a long time before the value of stocks returned to the price that people paid for the stocks. He shows similar statistics for real estate.
In the chapt