I know you don't get crowned with a Nobel prize, but perhaps you should be?

Anyway, comments from University of Chicago professor Richard Thaler, who this week won the Nobel Prize in economics.

  • "We seem to be living in the riskiest moment of our lives, and yet the stock market seems to be napping. I admit to not understanding it.
  • I don't know about you, but I'm nervous, and it seems like when investors are nervous, they're prone to being spooked.
  • Nothing seems to spook the market" and if the gains are based on tax-reform expectations, "surely investors should have lost confidence that that was going to happen."

Bloomberg article has more

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I saw yesterday somewhere that tax reform was unlikely to pass Congress this year. Which got an out-loud "Well, d'uh" from me I have to say.