How Viral Stories Impact Major Economic Events | Davos 2020

Robert Shiller is a Nobel Prize-winning economist, a professor at Yale University, and the author of “Narrative Economics: How Stories Go Viral and Drive Major Economic Events.” Shiller believes compelling stories can impact actual economic outcomes. These narrative disruptions make it very difficult to make long-term economic predictions.

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How Viral Stories Impact Major Economic Events | Davos 2020

Shiller says bitcoin is the best example of a bubble in the market today

China announced a ban on initial coin offerings on Monday which caused cryptocurrencies to stumble briefly. This ban could go beyond ICOs based on the language of the ban which may include cryptocurrency exchanges. But that isn’t the only blow to cryptocurrency this week. Nobel prize-winning economist Robert Shiller said bitcoin is the best example of a bubble in the market today. Shiller is known for calling the last two bubbles before they happened and as the author of “Irrational Exuberance.”

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

THE BOTTOM LINE: A lot of talk of a bitcoin bubble and a few good reasons to believe tech isn’t one

This week:
China announced a ban on initial coin offerings on Monday which caused cryptocurrencies to stumble briefly. This ban could go beyond ICOs based on the language of the ban which may include cryptocurrency exchanges. But that isn’t the only blow to cryptocurrency this week. Nobel prize-winning economist Robert Shiller said bitcoin is the best example of a bubble in the market today. Shiller is known for calling the last two bubbles before they happened and as the author of “Irrational Exuberance.”

Scott Kessler is the director of equity research at CFRA Research and leads the tech coverage for his team. Kessler says tech is reasonably valued and is right in line with the market. He doesn’t see the excess valuations that people are talking about. CFRA Research has a ‘Buy’ recommendation on all the FANG (Facebook, Amazon, Netflix, Google) stocks. Kessler also shares his favorite tech stock which is one of the worst 10 performers in the tech sector year-to-date.

Fidelity Investment sector strategist Denise Chisholm recently published her quarterly sector update. Sara Silverstein shares an interesting takeaway from Chisholm’s research that points to the differences in tech companies today versus the days of the tech bubble.

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Follow BI Video on Twitter: http://bit.ly/1oS68Zs
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/

————————————————–

Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.