Economist & Nobel laureate Robert Shiller Wants to Ditch Math and Focus on Gossip, Half Baked Philosophy and Fake News

The last thing an economist should do is to pull some calculators or spreadsheets to predict how Mr. Market is going to act. This would be a blasphemous claim among those who are not Austrian Economists and that's actually part of the reason we are in so many messy situations when i comes to economics.

 
Why Economics is not an Empirical Science but a Synthetic A Priori

Above is an article I have published over two years ago. If you read it and understand it, you will have no trouble realizing why the claims of Robert Shiller are accurate. His words are only going to gain more weight as the time move on with so much dumb money from millennial with mobile apps pour into the markets. 

“We love plans, algorithms, scenario planning. But you need full situational awareness. You need to learn cognitive diversity.”

What to Do?

My focus would be to focus on the fundamentals that cannot fail and focus on the long term while cashing on the short term hype trades and Technical Analysis (which in my limited experience seems like a form of pattern recognition). Narratives are going to face a day where they have to face the fundamentals. You will see this a lot happen in the cryptosphere. So make your plans fully considering the fact that the markets are extremely like to remain irrational for extended periods of times.  

You can think of this as a terrible tragedy or take it as an opportunity for arbritrage.  Narratives are going to distort the markets. Some crypto/stocks/assets are going to be way too overpriced and some will be way too underpriced. This shall be your opportunity. 

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