Richard Thaler is “nervous” about stock market

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Richard
Thaler

Chatham
House/Flickr


The winner of this year’s
Nobel Prize in economics
says he’s “nervous” about stocks.

We seem to be living in the riskiest moment of our lives,
and yet the stock market seems to be
napping,” 
Richard Thaler, who won the prize for
his contributions to behavioral economics,
told Bloomberg TV on Tuesday
. “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,” he
said, adding that “nothing seems to spook the market.”

Stocks have been on an upward trajectory for years,
and 

back
in September

 the S&P 500’s bull run became the
second-best-performing since World War II. The benchmark index
has climbed about 270% 

from
its March 2009 low

.

They have continually touched new highs since
President Donald Trump’s election in November 2016, attributed to
strong corporate-earnings growth and Wall Street’s hopes
of business-friendly
policies
.

Thaler was awarded the
2017 Sveriges Riksbank Prize in Economic Sciences in Memory of
Alfred Nobel on Monday.


Check out the full story at Bloomberg here
.

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