A good interview by IndexUniverse.com with Robert Shiller, the Yale University professor and author of “Irrational Exuberance” who was one of the first economists to predict a major downturn in the housing market.
For years, Shiller has worked on creating markets that would allow people to hedge against housing declines. He gradually seems to be getting traction—the Standard & Poor’s Case-Shiller Home Price Indexes, which are a precursor to hedge products, are getting more and more attention.
My favorite quote from the interview:
“I’m not deterred by slow processes.”
Hat tip to SeekingAlpha.com, where I first saw the interview.