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Are the financial markets rational?  It's a tough claim to make as share prices and bond yields zoom up and down during a single day, hour, or even second, sometimes without any obvious reasons.  Yet for the first time in human history, the markets may be approaching the ideal of rationality that economists have long cherished.

"In the Harry Potter world, Ravenclaws are known for being the smart ones. That's their thing. In fact, that was really all they were known for. In the books, each house could be boiled down to one or two words: Gryffindors are brave, Ravenclaws are smart, Slytherins are evil and/or racist, and Hufflepuffs are pathetic loyal. (Giving rise to this hilarious Second City mockery.)"

The language we use affects the decisions we make, according to a new study. Participants made more rational decisions when money-related choices were posed in a foreign language that they had learned in a classroom setting than when they were asked in a native tongue.

Here's some bad news for those of you who like to think you can think rationally about risk. You can't. You know all those thoughtfully considered views you have about nuclear power or genetically modified food or climate change? They are really no more than a jumble of facts, and how you feel about those facts. That's right. They're just your opinions. Which is bad news, because no matter how right you feel, you might be wrong. And being wrong about risk is risky, to you AND to others.