High & Low Finance:  In the Packaging of Loans, a Bust With Precedent
NY TImes
Though few people remember it, an earlier wave of private securitizations altered the real estate landscape, particularly in New York and other big U.S. cities. William Goetzmann and Frank Newman examine the first wave of securitizations.

Investors Hope the '10s Beat the '00s
Wall Street Journal
Professor William Goetzmann estimates the decline since the end of 1999 make the last 10 years the worst calendar decade for stocks going back to the 1820s, when reliable stock market records begin.

Reports on active management of the Government Pension Fund Global
Evaluation of Active Management of the Norwegian Government Pension Fund – Global. A report by Professor William Goetzmann, Andrew Ang, and Stephen Shaefer.

What if a Recovery Is All in Your Head? - Commentary by Robert J. Shiller
"Beyond fiscal stimulus and government bailouts, the economic recovery that appears under way may be based on little more than self-fulfilling prophecy," writes Robert Shiller in the New York Times.

New Database Captures Widespread Corporate Governance Changes of 1980s, Tracks 30 Years of Governance's Effect on Firm Performance
Professor Martijn Cremers and co-author Allen Ferrell of Harvard Law use their new database to analyze how governance affects firm value and stock returns.

The Investor Trading Game
or one night each year, the first-year class puts classroom lessons into practice as they trade stock and try to beat the market. Watch a video of Professors Roger Ibbotson and Nicholas Barberis discussing the Investor Trading Game.

Goetzmann on Real Estate Collapse
Mathematical models meant to calculate risk failed, leading many lenders to make loans that were doomed to go bust.