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correction? Or is the market high only because of some irrational exuberance—wishful thinking on the part of investors that blinds us to the truth of our situation? The answers to these questions are critically important to pri-vate and public interests alike. How we value the stock market now
exuberance—wishful thinking on the part of investors that blinds us to the truth of our situation? The answers to these questions are critically important to pri-
Dec 16, 2021 · Irrational exuberance. by. Shiller, Robert J. Publication date. 2015. Topics. Stocks -- United States, Stock exchanges -- United States, Stocks -- Prices -- United States, Real property -- Prices -- United States, Risk, Dow Jones industrial average. Publisher. Princeton : Princeton University Press.
Understanding human psychology, culture, and institutions matters. Alan Greenspan’s now famous phrase “irrational exuberance” is a good name for the variety of factors that has produced market excesses. I thought it was such a good term that in 2000 I wrote a book entitled Irrational Exuberance.
Aug 16, 2016 · In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize–winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008–9 financial crisis.
In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize–winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008–9 financial crisis.
In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize-winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008-9 financial crisis.
Excitement about price growth in the bond market, stock market, housing market, must play a role. The phrase “irraonal exuberance,” coined on Wall Street nearly a century ago, is a descripon of basic human nature.
Irrational Exuberance. Robert J. Shiller. One: The Stock Market Level in Historical Perspective. Price-earnings ratio, the real (inflation-corrected) S&P composite Index divided by the preceding ten-year moving average real earnings on the index.
In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severity—and suggests ways that individuals can decrease their risk before the next bubble bursts.
