I’ve posted Entry #123 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Shiller’s Chilling Words About the Limits to Tolerated Discussion of the Investing Realities.
Juicy Excerpt: Shiller says early in his lecture that he was a “total outcast” when he first began exploring his new investing model. He notes that: “I had tenure, so I could do it.” But, still, “you don’t want to do anything that is too out of fashion.” Fortunately, “we have a system that allows it to happen and I’s very glad to have that.”
The statement is chilling when you consider the impulse behind it.