I haven’t been posting much lately, and won’t post much (if at all) over the next few weeks because I’m taking some time off to finally really and truly finish the book I’ve been working on for the past few years.
The book is tentatively titled The Myth of the Rational Investor, and it grew out of an article I wrote for Fortune‘s annual Investor Guide four years ago. It’s an intellectual history of the rise, impact, and partial fall of the ivory-tower idea that financial markets can be relied upon to rationally and perfectly set prices for stocks, bonds and other securities. It will make you laugh, it will make you cry, it will render you capable of discussing the ideas of Gene Fama and Dick Thaler at cocktail parties. But only if I finish it.
