The UK and US stock markets have hit record highs in 2017 but are investors kidding themselves that valuations are sustainable? Professor Robert Shiller, Nobel Prize winner and current president of the American Economic Association, is advocating more research into how investors pick the narratives that take hold and drive prices higher. In his interview with the IC's James Norrington, he discusses how investors’ psychological traits take hold, why Mark Carney’s reaction to the Brexit vote may have been right and ask: is it wishful thinking or inspiration that drives investment in shares? Hosted on Acast. See acast.com/privacy for more information.