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Irrational Exuberance

Revised and Expanded Third Edition
in: Investing
Summary:

The book analyzes the broader economic and psychological factors driving volatility in the stock market and real estate, suggesting that herd behavior and speculative bubbles are fueled by irrational enthusiasm among investors. It provides historical evidence and updated data to warn of the potential risks in financial markets and the economy, advocating for more informed investment strategies and policy decisions.

Key points:

1. Irrational Exuberance: This term refers to the emotional excitement that causes investors to inflate asset prices beyond their actual value, leading to market bubbles and crashes.

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