Irrational Exuberance

An expert on market volatility offers a timely updated edition of his best-selling study that shows that the value of the stock market may be significantly inflated and urges cautious optimism, predicting that the market may show poorer ...

Author: Robert J. Shiller

Publisher: Broadway Business

ISBN: 9780767923637

Category: Business & Economics

Page: 304

View: 653

An expert on market volatility offers a timely updated edition of his best-selling study that shows that the value of the stock market may be significantly inflated and urges cautious optimism, predicting that the market may show poorer performance in the future. Reprint. 15,000 first printing.

Irrational Exuberance

Irrational exuberance is not that crazy. The once-popular terms speculative mania or speculative orgy seemed too strong to describe what we were going through in the 1990s. It was more like the kind of bad judgment we all remember ...

Author: Robert J. Shiller

Publisher: Princeton University Press

ISBN: 0691173125

Category: Business & Economics

Page: 392

View: 177

Why the irrational exuberance of investors hasn't disappeared since the 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. With high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing markets—and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. It also includes updated data throughout, as well as Shiller's 2013 Nobel Prize lecture, which places the book in broader context. 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. No one whose future depends on a retirement account, a house, or other investments can afford not to read this book.


How do we know , he wrote , when — and the phrase just popped into his head— “ irrational exuberance ” has unduly escalated the value of stocks ? He knew the phrase " irrational exuberance ” would have market consequences .

Author: Bob Woodward

Publisher: Simon and Schuster

ISBN: 9780743205627

Category: Biography & Autobiography

Page: 308

View: 434

Chronicles economic policy through the Clinton presidency, focusing on the role of Alan Greenspan, and discussing Wall Street, technology, and other factors to explain how the current economic arena came into being.

The Global Curse of the Federal Reserve

Andsoitis with irrational exuberance. In ordertodescribe the processof monetary fuellingof irrational exuberance,itis essential to step backand define someterms and concepts. Inparticular there is no one standard definition of ...

Author: B. Brown

Publisher: Springer

ISBN: 1137297409

Category: Business & Economics

Page: 228

View: 953

This revised edition offers the most up-to-date advice for investors who wish to defend themselves, or even make a profit from, the blighted policies of the Federal Reserve. Dr. Brown demonstrates how disordered US monetary policy causes waves of economic destruction around the globe.

Proceedings of 20th International Conference on Industrial Engineering and Engineering Management

The Downturn of Stock Market and the Irrational Exuberance of Leveraged Funds: A Case Study on Yinhuaxinli in SZSE Yong-jun Qi, Kai-guo Yin, and Hai-yan Zhong Abstract Although the issuing of stock funds became increasingly difficult ...

Author: Ershi Qi

Publisher: Springer Science & Business Media

ISBN: 3642400728

Category: Business & Economics

Page: 1190

View: 486

The International Conference on Industrial Engineering and Engineering Management is sponsored by the Chinese Industrial Engineering Institution, CMES, which is the only national-level academic society for Industrial Engineering. The conference is held annually as the major event in this arena. Being the largest and the most authoritative international academic conference held in China, it provides an academic platform for experts and entrepreneurs in the areas of international industrial engineering and management to exchange their research findings. Many experts in various fields from China and around the world gather together at the conference to review, exchange, summarize and promote their achievements in the fields of industrial engineering and engineering management. For example, some experts pay special attention to the current state of the application of related techniques in China as well as their future prospects, such as green product design, quality control and management, supply chain and logistics management to address the need for, amongst other things low-carbon, energy-saving and emission-reduction. They also offer opinions on the outlook for the development of related techniques. The proceedings offers impressive methods and concrete applications for experts from colleges and universities, research institutions and enterprises who are engaged in theoretical research into industrial engineering and engineering management and its applications. As all the papers are of great value from both an academic and a practical point of view, they also provide research data for international scholars who are investigating Chinese style enterprises and engineering management.

Simon and Schuster Crossword Puzzle Book

1 Oohs and 5 Avant- 10 Whip 14 Rakes 18 Job opening 19 Sutherland solos 20 Slack off 21 Medley 22 Irrational exuberance 26 Set of kettledrums 27 Allocated 28 Dog-tired 29 Mrs. Gump 30 Pertain 32 Sea, to Sartre 33 Irrational exuberance ...

Author: John M. Samson

Publisher: Simon and Schuster

ISBN: 0684843579

Category: Games & Activities

Page: 70

View: 135

For fans of traditional crosswords, here is a brand new collection of original puzzles. The latest in Simon and Schuster's legendary series presents 50 intellectually challenging puzzles in a variety of sizes.

Alan Greenspan

markets once the wealth holders became irrational speculators. Then, the demons they unleashed would take on lives of their own. “Risk management” would continue to be Greenspan's mantra. Goldilocks: Prelude to Irrational Exuberance ...

Author: E. Ray Canterbery

Publisher: World Scientific

ISBN: 9812566066

Category: Science

Page: 208

View: 390

This thought-provoking new title, by the highly acclaimed author of Wall Street Capitalism and Brief History of Economics, provides a much-needed counterbalance to the mythical distortions of Alan Greenspan. Canterbery exposes Greenspan's fundamentalist market ideology as overwhelming rationality in the making of economic policy. He depicts a Fed selfishly guarding its political independence, even as Greenspan has his way in virtually every major economic and social policy affecting the global economy since the Ford Administration. This book reveals the hidden nodes of power that give the Fed vast authority over the global economy. It also explains why it is so important not only to understand those powers, but also to appreciate why they are resistant to moderation. Key Features Goes behind the scenes of policy-making at the Federal Reserve and the White House to reveal how financial interests are served while ordinary workers' interests are left behind Exposes the many blunders of the Fed leading to self-inflicted financial crises and aggressive interventions that made Greenspan a legend Unmasks Alan Greenspan as a Wall Street insider who has amassed more political power than the President of United States Shows how Greenspan has derailed American Presidents by inept policy decisions Readership: Trade Market: Readers of the financial news (especially those who invest in stocks, bonds and housing) and those with a lively interest in public policy and how it is made; Academic: Supplementary text for professors and university students at all levels in business, finance, money and banking, macroeconomics, principles of economics, economic history, contemporary history, and general social sciences.

The SAGE Encyclopedia of Economics and Society

The bursting of the dot-com bubble in 2008 is captured better by the subjective probabilities that were clearly wrong in retrospect and fueled by irrational exuberance and investor mood. The importance of behavioral economics, ...

Author: Frederick F. Wherry

Publisher: SAGE Publications

ISBN: 150630088X

Category: Social Science

Page: 1984

View: 176

Economics is the nexus and engine that runs society, affecting societal well-being, raising standards of living when economies prosper or lowering citizens through class structures when economies perform poorly. Our society only has to witness the booms and busts of the past decade to see how economics profoundly affects the cores of societies around the world. From a household budget to international trade, economics ranges from the micro- to the macro-level. It relates to a breadth of social science disciplines that help describe the content of the proposed encyclopedia, which will explicitly approach economics through varied disciplinary lenses. Although there are encyclopedias of covering economics (especially classic economic theory and history), the SAGE Encyclopedia of Economics and Society emphasizes the contemporary world, contemporary issues, and society. Features: 4 volumes with approximately 800 signed articles ranging from 1,000 to 5,000 words each are presented in a choice of print or electronic editions Organized A-to-Z with a thematic Reader's Guide in the front matter groups related entries Articles conclude with References & Future Readings to guide students to the next step on their research journeys Cross-references between and among articles combine with a thorough Index and the Reader's Guide to enhance search-and-browse in the electronic version Pedagogical elements include a Chronology of Economics and Society, Resource Guide, and Glossary This academic, multi-author reference work will serve as a general, non-technical resource for students and researchers within social science programs who seek to better understand economics through a contemporary lens.

Encyclopedia of Governance

The phrase irrational exuberance refers to the systematically excessive valuation of financial assets by investors, which is a function of wishful thinking and reflected in unjustifiably high market price levels.

Author: Mark Bevir

Publisher: SAGE Publications

ISBN: 1452265526

Category: Political Science

Page: 1232

View: 843

The Encyclopedia of Governance provides a one-stop point of reference for the diverse and complex topics surrounding governance for the period between the collapse of the post-war consensus and the rise of neoliberal regimes in the 1970s. This comprehensive resource concentrates primarily on topics related to the changing nature and role of the state in recent times and the ways in which these roles have been conceptualized in the areas of Political Science, Public Administration, Political Economy, and Sociology.

Are You Missing the Real Estate Boom

The stock market developed a bubble in the late 1990s because irrational exuberance led investors to overbuy the market . A large number of stock purchases in companies — particularly the high - tech and Internet stocks — were based on ...

Author: David Lereah

Publisher: Currency

ISBN: 9780385515276

Category: Business & Economics

Page: 288

View: 368

Are You Missing the Real Estate Boom? author David Lereah, chief economist for the National Association of Realtors, asks. We are experiencing a historic wealth-building opportunity. To ensure that your don’t miss out, Lereah provides the tools, information, and analysis you need to become a savvy real estate investor. And he shows how to integrate real estate into your overall investment strategies and financial planning goals. Among the information you’ll find in the book: How to become a master at dealing with real estate agents, brokers, and lenders. Which home improvements will result in the greatest long-term gains. How to identify the vacation homes and regions that will increase the most in value. How to finance a first-time home—with or without a big down payment. Why will the real estate boom continue into the next decade? Low interest rates are part of the story. Although mortgage rates have notched up slightly over the last year, they still remain historically very low. Technological advances from online real estate listings to automated underwriting to an explosion of financing options have reduced home ownership costs and simplified the process of buying and selling. Continued high demand from baby-boomers buying larger homes, second homes, and retirement homes, and a new wave of immigrants and “echo” boomers buying first homes, ensure that the boom will continue into the next decade. The long-term fundamentals for housing remain strong into the foreseeable future, claims Lereah. Far from a real estate “bubble,” what we are experiencing today is a phenomenon that takes place only once every other generation: a long-term real estate market expansion. Isn’t it time you started taking advantage of it today? Are you missing the real estate boom? Can you increase your wealth from it? For most people—including current homeowners—the answer is a resounding yes. But it’s not too late to increase your stake in the greatest real estate boom of our generation. Whether you are a first-time buyer or already own your home, Are You Missing the Real Estate Boom? will show you how you can dramatically increase your overall wealth. Author David Lereah, chief economist for the National Association of Realtors, shows why the real estate market is poised to climb higher over the next decade—and explains what you can do to profit from it. Lereah calls today’s market a “once-in-every-other generation opportunity.” Today's boom is not just driven by low interest rates—there are a host of demographic and economic reasons why real estate will continue to outpace other investments, from the growing needs of the baby-boomer generation and the rise of the “echo” boomer generation to the new ways real estate is marketed and sold. Are you a first-time buyer? A current homeowner considering whether or not to trade up? There has never been a better time to do so, Lereah convincingly claims. In Are You Missing the Real Estate Boom?, Lereah explains what to look for when you’re buying a home; which improvements add the most value to your current home; what to consider when purchasing rental properties; how to evaluate real estate investment trusts (or REITs); and the pros and cons of second homes. Full of detailed information on how to work with a real estate agent and a mortgage lender, how to analyze local markets and regional fluctuations, and how to best finance your investment, Are You Missing the Real Estate Boom? offers readers the seasoned advice they need to invest with confidence and reap outsized rewards.