You are here

Why traders are cheering when they should be fearing

Nobel Prize winner recalls overpriced valuations of 2000 as Trump touts his 'pro-business' agenda.

In the past eight years, traders have become conditioned to ignore the danger signs as they have seen how central banks are more than willing to save the day when markets fall.


THE last time Robert Shiller heard stock-market investors talk like this in 2000, it didn't end well for the bulls. Back then, the Nobel Prize-winning economist says, traders were captivated by a "new era story" of technological transformation: the Internet had redefined American...

Market voices on: