Smart Money, Dumb Idea: Bad Bets by Financial Pros 

By Ben Steverman - 2013-10-22T17:22:03Z

Photograph by Ty Wright/Bloomberg

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Robert Shiller: Farmland Folly

I wrote an article two years ago about a bubble in farm prices, especially in the Midwest U.S. I was thinking it might not be close to bursting, but did not buy any farmland myself. Since then, farm prices have skyrocketed more. Why did I do nothing? Partly it was fear I might be wrong. Partly it was not wanting to pile into a bubble. More, it was just inertia.

Robert Shiller, Sterling Professor of Economics at Yale University and co-creator of the Case-Shiller Home Price Indices, shares the 2013 Nobel Prize in Economics with Eugene F. Fama and Lars Peter Hansen.

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