Irrational Exuberance
| Author | : | |
| Rating | : | 4.23 (587 Votes) |
| Asin | : | 0767923634 |
| Format Type | : | paperback |
| Number of Pages | : | 336 Pages |
| Publish Date | : | 2017-11-05 |
| Language | : | English |
DESCRIPTION:
Irrationality Redux? This first edition of this book, in 2000, was a broad study, drawing on a wide range of published research and historical evidence, of the enormous stock market boom that started around 1982 and picked up incredible speed after 1995. The book argued that the boom represented a speculative bubble, not grounded in sensible economic fundamentals. The second edition, in 2005, added an analysis of the real estate bubble as similar to the stock market bubble that preceded it, and warned that "Significant further rises in these markets could lead, eventually, to . Excellent at Providing Historical Perspective, Analyzing Psychological Factors Causing Bubbles but Weak at Providing Solutions This reviewer remembers having read the first edition of this book back when it first came out in either 1999 or 2000, just before the stock market crash of 2000-2001. It did a very good job at providing historical perspective regarding long-term values in the stock market. It, correctly, pointed out that the stock market was overpriced and that a decline would be reasonable to expect. And so it happened.Since then, bubbles have also burst in the housing market worldwide as well as the stock markets. In addition, commodity markets have taken on many of the. Nick Zealand said No Easy Answers. The first edition of Irrational Exuberance warned of a stock market bubble. The key takeaway was to diversify. A few months later the dot com bubble crashed and stocks corrected.The second edition of Irrational Exuberance warned of a housing market bubble. The key takeaway was to diversify. A few years later, the sub-prime crisis hit and both stocks and house prices corrected.This, the third edition, warns about a number of things. And there seems to be no place to hide. Interest rates on bonds are historically low and unattractive. US stock prices are hig
“Robert Shiller has done more than any other economist of his generation to document the less rational aspects of financial markets.” — Paul Krugman“A modern classic of ‘serious’ economics that demands to be read, and can be enjoyed, by the interested nonspecialist.” –The Economist“A dose of realism that serious investors will ignore at their peril.” —The Wall Street Journal“The point of Irrational Exuberance is not to help investors dump their houses before the current exuberance fades. Shiller is not merely a bear—he is a grizzly.” —BusinessWeek. It is to deepen our understanding of the events we are watching as one bubble gives birth to another.” —The International Herald Tribune“Irrational Exuberance is a dazzling, richly textured, provocative book offering a cogent statement of the bears’ view o
As Robert Shiller’s new 2009 preface to his prescient classic on behavioral economics and market volatility asserts, the irrational exuberance of the stock and housing markets “has been ended by an economic crisis of a magnitude not seen since the Great Depression of the 1930s.” As we all, ordinary Americans and professional investors alike, crawl from the wreckage of our heedless bubble economy, the shrewd insights and sober warnings, and hard facts that Shiller marshals in this book are more invaluable than ever. In the second edition (2005), Shiller folded real estate into his analysis of market
Samuelson Award. Robert J. Resor Professor of Economics at Yale University. Shiller is the Stanley B. . He is also the author of Market Volatility and Macro Markets, which won the 1996 Paul A. He is the recipient of the 2000 Commonfund Prize, awarded for Best Contribution to Endowment Management Research, for Irrational Exuberance