"I felt the need to use restraint," Shiller said in Dan Gardner’s book, Future Babble. "The consensus in the group was that there was no bubble and no need to raise interest rates. To suggest otherwise was distinctly uncomfortable. I [made my point] very gently, and felt vulnerable expressing such quirky views." Shiller summed up the experience perfectly: "Deviating too far from consensus leaves one feeling potentially ostracized from the group, with the risk that one may be terminated."Robert Shiller was on the advisory board to the Federal Reserve much during 1999-2004 when, if he has ......
Morgan Housel at Fool have a good piece on people trying to be contrarian. It’s a good piece in that if you prowl the investment chat rooms or Facebook groups enough, everyone seem to have an idea.
50% perhaps will be long. 50% will think otherwise. Who do you listen to?