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.
Books similar to "Irrational Exuberance":
Animal Spirits
George A. Akerlof|Robert J. J. Shiller
The Subprime Solution
Robert J. Shiller
Capital Ideas Evolving
Peter L. Bernstein
Why Stock Markets Crash
Didier Sornette
Narrative Economics
Robert J. Shiller
Mobs, Messiahs, and Markets
William Bonner|Lila Rajiva
A Short History of Financial Euphoria
John Kenneth Galbraith
The New Paradigm for Financial Markets
George Soros
The New Financial Order
Robert J. Shiller
The Behavioral Investor
Daniel Crosby