Irrational Exuberance 3rd edition
| Author | : | |
| Rating | : | 4.17 (762 Votes) |
| Asin | : | 0691166269 |
| Format Type | : | paperback |
| Number of Pages | : | 392 Pages |
| Publish Date | : | 2016-06-17 |
| Language | : | English |
DESCRIPTION:
In other words, Irrational Exuberance is as relevant as ever. No one whose future depends on a retirement account, a house, or other investments can afford not to read this book.. 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. 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 severityand suggests ways that individuals can decrease their risk before the next bubble bursts. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. 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. Previous editions covered the stock and housing marketsand famo
Robert J. . Shiller, the recipient of the 2013 Nobel Prize in economics, is a bestselling author, a regular contributor to the Economic View column of the New York Times, and a professor of economics at Yale University. For more information, please go to irrationalexuberance
"Irrationality Redux?" according to Great Faulkner's Ghost. 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 even more significant declines." Alas, both predictions turned out t. Excellent at Providing Historical Perspective, Analyzing Psychological Factors Causing Bubbles but Weak at Providing Solutions Yoda 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 speculative characteristics of equity and housing markets, characte. 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 high. Yet historically speaking, Shiller thinks stocks could continue t
The market can 'go through significant mispricing lasting years or even decades.'"--Robert J. Shiller illustrates how the current market is like a naturally occurring Ponzi scheme in which investors become promoters for the game after receiving initial payments with money taken from subsequent investors."--David Henry, USA Today"Irrational Exuberance is not billed as a personal finance book. If you want to preserve capital, unload most of your stocks and invest in government bonds."--Steve H. It is to deepen our understanding of the events we are watching as one bubble gives birth to another and to encourage readers to