Investing Trends is a fan of Richard Thaler, the 2017 Nobel Laureate who popularized the notion that people’s biases and impulses are profoundly relevant to the study of economics.
He also had a great cameo in the movie The Big Short, which is the film adaptation of the Michael Lewis book about the early 21st century financial crisis. In his scene, Thaler and singer Selena Gomez explain synthetic collateralized debt obligations.
Here is one of our favorite new Thaler quotes. It’s from a recent interview with Barron’s.
“I put my money in the stock market. I was on a morning show once, and someone asked what my advice would be the next time there’s market turmoil. I said, well, it would be to switch off this network and leave things alone.
“I was not invited back.”
