patrick.net

thomas.wong1986 says

ChrisLA says

Some economist named Shiller (not sure if it was Rob) was on NPR yesterday

Robert Shiller.. Same guy that was the first to predict the Tech bubble back in the late 90s and housing bubble 7+ years ago. Needless to say he was the only one making those predictions back then, and was not taken serious during the media interviews he did.
But he has been very accurate…

Ah good, I wasn't sure if it was him since he was introduced by his last name. He does have a very good point.

Friday, 27 September, 2002,

Market madness ending, says Buffett

The "mass hallucination" that gripped the world's stock markets during the tech boom is ending, the US investment guru Warren Buffett has told the BBC.

He said the markets were now "more realistic" compared with the share bubble of a few years ago, when investors ignored common sense and started "dreaming".

Mr Buffett added that the hallucination had led to an erosion of accounting standards, which erupted so damagingly over the past few months.

And he said investors should take a long-term view with their money if they wanted to be successful.