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The Term “Irrational Exuberance” Is a Synonym for “Scam”

Irrational exuberance scam

Irrational Exuberance was a good title for Robert Shiller’s book “revolutionizing” (that word appears in the subtitle) our understanding of how the stock market works. It gets to the key question. The Buy-and-Hold Model is rooted in a presumption that investors are rational. If that were so, stock prices would only rise when there was […]

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