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S&P/CoreLogic

Shiller Warns US Stock Market 'Trump Effect' "Is Based On Illusion"

Authored by Robert Shiller, originally posted op-ed at The Guardian,

Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict.

In the US, two illusions have been important recently in financial markets.