Nobel Laureate and GSB professor emeritus William Sharpe told an audience at Stanford that they shouldn’t place too much weight on what financial experts predict.
In a darkly funny discussion on the current financial crisis, Sharpe reminded the audience that “Financial people did what financial people do. They took a lot of risks so if things turned out well they got really rich and if things didn’t . . . you and I bailed them out.”
And to those who said we all should have seen it coming: “Everyone can spot a bubble . . . Afterwards.”
- Stanford Daily: Nobel Laureate Sharpe expounds economic advice
Also on Stanford Knowledgebase: