Panic v numerical discipline in predicting Covid19’s market impact
“Investment ideas can spread like epidemics.” Robert Shiller in his Nobel Lecture “Speculative Asset Markets” 2013 Bob Shiller’s Nobel winning contribution was the observation that asset markets generally are too volatile relative to theoretical methods for pricing securities. The panicked reaction to Coronavirus 2019 (Covid19) seems no exception. I have regularly been asked what Covid19’s […]