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Nobel Prize-Winning Economist Robert Shiller On Indexing

publication date: Dec 2, 2017
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author/source: Valuentum Editorial Staff

Robert Shiller on what worries him about passive investing from CNBC.

“The problem is that if you are talking about passive indexing, that is something that is really free-riding on other people's work. So people say, 'I'm not going to try to beat the market. The market is all-knowing.' But how in the world can the market be all-knowing, if nobody is trying — well, not as many people — are trying to beat it? ... The strength of this country was built on people who watched individual companies. They had opinions about them. All this talk of indexes, it's a little bit diluting of our intellect. It becomes more of a game. It's a chaotic system. It's kind of pseudoscience to think these indexes are perfect, and all I need is some kind of computer-model instead of thinking about business.” 

– Nobel Prize-winning economist Robert Shiller on CNBC

November 14, 2017


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