This week on Wealthtrack, renowned Yale economist and “financial thought leader” Robert Shiller tells Consuelo Mack why he believes home prices could suffer a double dip and stock prices are not cheap.
Shiller has several best-selling books to his credit. One of them, Irrational Exuberance, published in 2000 before the tech bubble burst, traced the stock market boom and its ever escalating trajectory. The second edition, in 2005 gave early warning of the emerging global real estate bubble and the long run consequences we are living with today. Shiller believes that human psychology drives the economy. A recent book, Animal Spirits, co-authored with Berkeley economist George Akerlof describes how and why.
Note: The transcript of this interview is not available yet, but will be posted here as soon as it arrives.
Source: Wealthtrack, April 16, 2010.
