Robert Shiller: “Bear Market Narrative” Alone Enough to Spur Bear Market

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Risk of bear market in 2019, Yale’s Shiller says from CNBC.

via CNBC:

  • “There is a feeling that the stock market might be due for some deflating now because it’s been a long time, and we’ve seen some hints of it and we haven’t seen the real deflation yet,” he told CNBC at the World Economic Forum (WEF) in Davos, Switzerland.
  • Shiller, who won the Nobel Prize for Economics in 2013 for his work on asset prices and inefficient markets, said he didn’t pay as much attention to fundamentals driving markets but was “more interested in psychology” and popular “narratives.”
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