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Topic: Irrational exuberance


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In the News (Tue 29 Dec 09)

  
 Definition of Irrational Exuberance
The term "irrational exuberance" derives from some words that Alan Greenspan, chairman of the Federal Reserve Board in Washington, used in a black-tie dinner speech entitled "The Challenge of Central Banking in a Democratic Society" before the American Enterprise Institute at the Washington Hilton Hotel December 5, 1996.
Probably, "irrational exuberance" are Greenspan's own words, and not a speech writer's, and probably Alan Greenspan had written a draft of his 1996 speech even before I testified.
The term "irrational exuberance" is often used to describe a heightened state of speculative fervor.
www.irrationalexuberance.com /Def-ie.htm   (430 words)

  
 Irrational exuberance - Wikipedia, the free encyclopedia
The book Irrational Exuberance by Robert Shiller, which expanded on the theme of Mr.
The animutation Irrational Exuberance by Veloso, which features images of Mr.
This is a disambiguation page, a list of pages that otherwise might share the same title.
en.wikipedia.org /wiki/Irrational_exuberance   (106 words)

  
 Irrational Exuberance by Robert J. Shiller
We also cannot protect society from the effects of the waves of irrational exuberance or irrational pessimism, emotional reactions that are part of the human condition.
This article is drawn from Irrational Exuberance by Robert J. Shiller, published by Princeton University Press, April 2000, and appears here with its permission.
In a 1996 statement intended to warn against stock market excesses, Alan Greenspan suggested that "irrational exuberance" was driving the very high market levels.
www.puaf.umd.edu /IPPP/Winter-Spring00/Irrational_Exuberance.htm   (3043 words)

  
 Shiller, R.: Irrational Exuberance.
Irrational Exuberance is a must-read for pension-plan sponsors and endowment managers in the United States and abroad.
"Irrational Exuberance should be compulsory reading for anybody interested in Wall Street or financially exposed to it; at the moment, that would be roughly everybody in the United States.
Shiller's analysis is convincingly documented, and--regardless of the market's future behavior--his book will stand as an important elaboration of why stocks soared and what our investment alternatives are.
pup.princeton.edu /titles/6779.html   (662 words)

  
 MONEY magazine: Irrational Exuberance by Robert J. Shiller - Jan. 25, 2005
A few days before Alan Greenspan famously used the phrase "irrational exuberance" in a December 1996 speech, Shiller had been at lunch with the Fed chairman, arguing that the stock market was irrational and suggesting that Greenspan might have something to say about how overvalued it had become.
Below is a MONEY exclusive: excerpts from the new edition of Irrational Exuberance, in which Shiller aims to pop the conventional wisdom about the causes and sustainability of the current boom, and about the real return of investing in homes.
A substantially revised edition of "Irrational Exuberance", to be published in April, includes a new chapter on what Shiller believes is the bubble in residential real estate.
money.cnn.com /2005/01/13/real_estate/realestate_shiller1_0502   (1754 words)

  
 Socialism Today - Irrational Exuberance
A week after Irrational Exuberance was published early in April, US stock markets began a precipitous fall, with a 40% drop in the Nasdaq index of technology stocks.
This is the 'irrational exuberance' Shiller seeks to explain.
As with any manic, addictive behaviour, 'irrational exuberance' is not susceptible to any rational cure.
www.socialismtoday.org /49/economy.html   (4190 words)

  
 Irrational Exuberance
I picked "Irrational Exuberance" for the name of this blog because 1) it has a clever ring to it and 2) I enjoy life despite the fact that there are enough things going wrong in the world to send any sane person off to a cave for the duration.
Now I find that I'm number 5 on Google's list of responses for a search on "irrational exuberance." All those people are searching for Robert Shiller's book, or Alan Greenspan's quote, and what they get is this blog.
They don't give a rat's butt for my prattling on, but a few follow the link and of course 99.9999% never return.
radio.weblogs.com /0105061/2002/09/19.html   (398 words)

  
 Edinburgh Student Newspaper : News : Irrational exuberance?
He is notorious for his 1996 catch-phrase “Irrational Exuberance”.
Edinburgh Student Newspaper : News : Irrational exuberance?
At the time, many interpreted this as referring to an overvalued economy and was believed to have contributed to the downfall of the dot-com boom and a steep slump in international stock markets.
www.studentnewspaper.org /view_article.php?article_id=20050124165441   (324 words)

  
 Amazon.com: Books: Irrational Exuberance : Second Edition
"Irrational Exuberance" is an expression that was actually coined by Robert J Shiller, and was used in his briefing of Alan Greenspan in 1996 before the Chairman of the Federal Reserve immortalized it in a public setting.
Irrational Exuberance tells the reader why today's market is overvalued, how it got that way, and what policymakers should do about it.
When Alan Greenspan, chairman of the Federal Reserve Board in Washington, used the term irrational exuberance to describe the behavior of stock market investors in an otherwise staid speech on December 5, 1996, the world fixated on those words.
www.amazon.com /exec/obidos/tg/detail/-/0691123357?v=glance   (3465 words)

  
 Verylowsodium.com - Wasting bandwidth through noses since 2001 - :-)
Irrational Exuberance was my second and most famous animation.
You probably know me from Irrational Exuberance, but I have others.
Fanimutation of kings, Irrational Exuberance took me thirty hours to make.
www.verylowsodium.com /fanimutation/exuberance.php   (202 words)

  
 Irrational Exuberance -- Facts, Info, and Encyclopedia article
Irrational Exuberance -- Facts, Info, and Encyclopedia article
a (A major division of a long written composition) book by (Click link for more info and facts about Robert Shiller) Robert Shiller named after (Click link for more info and facts about Alan Greenspan) Alan Greenspan's" (Click link for more info and facts about irrational exuberance) irrational exuberance" quote; or
www.absoluteastronomy.com /encyclopedia/i/ir/irrational_exuberance.htm   (77 words)

  
 Online NewsHour: The power of Allan Greenspan -- December 6, 1996
KWAME HOLMAN: Greenspan's comments about irrational exuberance and unduly escalating stock prices came after the New York stock exchange had closed, but traders around the world were just starting their day.
"Irrational exuberance and unduly escalating stock prices." These seven simple words describing the stock market in a speech by the Chairman of the Federal Reserve, Alan Greenspan, sent markets around the world into a sharp downward spiral.
ALAN GREENSPAN, Chairman, Federal Reserve Board: How do we know when irrational exuberance has unduly escalated asset values which then become the subject of unexpected and prolonged contractions as they have in Japan over the past decade.
www.pbs.org /newshour/bb/economy/december96/greenspan_12-6.html   (1984 words)

  
 Hussman Funds - Irrational Exuberance Turns Seven
On the anniversary of the Fed Chairman's "Irrational Exuberance" speech, let us give Alan Greenspan his due.
It will be seven years in December since Fed Chairman Alan Greenspan first wondered out loud whether investors in U.S. stocks were being ‘irrationally exuberant'.
Even though the remark centered on the role that inflated stock values would have on the real economy, investors clung to the phrase and pushed the largest U.S. stocks down over 2 percent the next morning.
www.hussman.net /rsi/exuberance.htm   (850 words)

  
 irrational exuberance Information
The most likely reason our database doesn't have the information on irrational exuberance is because our editors haven't gotten around to finalizing it yet.
For now you may want to try irrational exuberance at [coruwat.com] for information.
If you are in urgent need of finding information on this subject you may want to click one of the links found on this page for irrational exuberance or do a search at google.
www.echostatic.com /irrational_exuberance.html   (96 words)

  
 Irrational exuberance - Wikipedia, the free encyclopedia
Irrational exuberance (finance), a financial term used by Alan Greenspan, with regards to equity prices in the United States in 1996.
Irrational Exuberance, a book by Robert Shiller, which expanded on the theme of Mr.
Irrational Exuberance (Animutation), an Animutation by Veloso, which features images of Mr.
en.wikipedia.org /wiki/Irrational_exuberance   (120 words)

  
 Irrational Exuberance (book) - Wikipedia, the free encyclopedia
Irrational Exuberance is a March 2000 book written by Yale University professor Robert Shiller, named after Alan Greenspan 's " irrational exuberance " quote.
For other uses of the term Irrational exuberance, see the Irrational exuberance disambiguation article.
Shiller was soon proven right when the Nasdaq peaked on the very month of the book's publication, and the stock markets collapsed right after.
en.wikipedia.org /wiki/Irrational_Exuberance_(book)   (120 words)

  
 Fool.com: Robert Shiller's Irrational Exuberance (Special) June 12, 2000
Irrational Exuberance, as the title indicates, argues that the stock market is significantly overvalued by historical standards, and that equity investors are very much at risk of receiving flat or declining returns, perhaps for as long as one or two decades.
Irrational Exuberance argues that the most important explanation for our current bull market is investor psychology, not the Internet or other technologies, nor the globalization of the economy, nor the growth in corporate profits.
Irrational Exuberance is a thought-provoking book, and should be read by anyone planning to keep most of their savings invested in the market, but it is also deeply flawed in many ways.
www.fool.com /specials/2000/sp000612.htm   (120 words)

  
 Irrational exuberance redux - Oct. 27, 2003
Nobody talks much about irrational exuberance these days -- things just don't seem silly like they did in March 2000.
Justin Lahart, senior writer at CNN/Money, talks about valuation levels and irrational exuberance.
But with the recovery in the market, stocks are beginning to look at least as expensive as when Greenspan first breathed what will go down as his most famous words.
money.cnn.com /2003/10/24/commentary/bidask/bidask   (478 words)

  
 Irrational Exuberance
In his book Irrational Exuberance, Robert Shiller, a professor of Economics at Yale, attributed the latest observed stock market mania to investors' psychology.
Shiller believed that "stock market players" were driven by impulse and herd behavior.
www.greekshares.com /irrational_exuberance.asp   (727 words)

  
 Irrational Exuberance
The base assumption is that speculative exuberance is somehow irrational.
It was ‘irrational’ to invest in EBay because the classic measures could not be reasonably applied.
While we continue to divide market reactions into rational and irrational we construct the tools required for effective analysis and understanding.
www.guppytraders.com /b261.htm   (334 words)

  
 D is for Dotcom - MORAL COMPASS - Magazine - Darwin Online for Informed Executives
Alan Greenspan famously called this feeding frenzy "irrational exuberance." In hindsight, others have called it "groupthink." I consider it "groupgreed," based on that unfortunate mix of motive and opportunity that is a dangerous combination in stock markets, or any market for that matter.
Some players were just irrationally exuberant, says Newsweek writer Adam Rogers.
As the Washington Monthly reviewed it: "Cassidy's theory is that the Internet stock boom wasn't just a Ponzi scheme inadvertently created out of exuberance for a remarkable new technology.
www.darwinmag.com /read/100103/dotcom.html   (1125 words)

  
 John Derbyshire on National Review Online
So perhaps the exuberance isn't as irrational as all that.
Of course, there are many things that could still go wrong, and I still think that the usefulness of having U.S. troops in Iraq reached the point of diminishing returns round about the end of January.
www.nationalreview.com /derbyshire/derbyshire200503100741.asp   (1031 words)

  
 Irrational Exuberance (book) - Wikipedia, the free encyclopedia
Irrational Exuberance is a March 2000 book written by Yale University professor Robert Shiller, named after Alan Greenspan's "irrational exuberance" quote.
The second edition of Irrational Exuberance published in 2005 is updated to cover the housing bubble, especially in the United States.
Robert Shiller's plot of U.S. home prices, population, building costs, and bond yields (from Irrational Exuberance, 2d ed.
en.wikipedia.org /wiki/Irrational_Exuberance_(book)   (256 words)

  
 Irrational exuberance (finance) - Wikipedia, the free encyclopedia
"Irrational exuberance" is a phrase used by former Federal Reserve Board Chairman Alan Greenspan in a speech given at the American Enterprise Institute during the stock market boom of the 1990s.
For other uses of the term Irrational exuberance, see the Irrational exuberance disambiguation article.
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
en.wikipedia.org /wiki/Irrational_exuberance_(finance)   (445 words)

  
 Finance Encyclopedia Article, Information, History and Biography @ NaturalResearch.org
Finance is used by individuals (personal finance), by governments (public finance), by businesses (corporate finance), etc., as well as by a wide variety of organizations including schools and non-profit organizations.
The activity of finance is the application of a set of techniques that individuals and organizations (entities) use to manage their financial affairs, particularly the differences between income and expenditure and the risks of their investments.
In the case of a company, managerial finance or corporate finance is the task of providing the funds for the corporations' activities.
www.naturalresearch.org /encyclopedia/Finance   (1112 words)

  
 Definition of Irrational Exuberance
The term "irrational exuberance" derives from some words that Alan Greenspan, chairman of the Federal Reserve Board in Washington, used in a black-tie dinner speech entitled "The Challenge of Central Banking in a Democratic Society" before the American Enterprise Institute at the Washington Hilton Hotel December 5, 1996.
Probably, "irrational exuberance" are Greenspan's own words, and not a speech writer's, and probably Alan Greenspan had written a draft of his 1996 speech even before I testified.
The term "irrational exuberance" is often used to describe a heightened state of speculative fervor.
www.irrationalexuberance.com /Def-ie.htm   (430 words)

  
 Definition of Irrational Exuberance
The term "irrational exuberance" derives from some words that Alan Greenspan, chairman of the Federal Reserve Board in Washington, used in a black-tie dinner speech entitled "The Challenge of Central Banking in a Democratic Society" before the American Enterprise Institute at the Washington Hilton Hotel December 5, 1996.
Probably, "irrational exuberance" are Greenspan's own words, and not a speech writer's, and probably Alan Greenspan had written a draft of his 1996 speech even before I testified.
The term "irrational exuberance" is often used to describe a heightened state of speculative fervor.
www.irrationalexuberance.com /Def-ie.htm   (430 words)

  
 Review of Shiller's Irrational Exuberance
Robert Shiller's book Irrational Exuberance is a well-researched effort to put recent stock market fluctuations in the appropriate historical perspective.
The word irrational in the title suggests that he demonstrates that investors are irrational during bubbles, but much of his explanations are at least as consistent with the hypothesis that investors are pursuing multiple goals, and that the other goals sometimes interfere with the goal of maximizing the return from their investments.
The book contains many minor flaws, but most of his arguments are robust enough to be little affected by his mistakes.
www.bayesianinvestor.com /shiller_review.html   (430 words)

  
 Irrational Exuberance Audio Book
Irrational Exuberance was authored by Robert J. Shiller and is narrated by Robert J. Shiller.
Irrational Exuberance is a great audio book to use as a test of this concept.
Irrational Exuberance is now available as an audio book.
www.audio-book.ws /books/irrational-exuberance.php   (430 words)

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