Irrational Exuberance: The Lesson of the Bird in the Bush
Irrational Exuberance: The Lesson of the Bird in the Bush “How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions?” Alan Greenspan, December 5, 1996Another day, another market record. The Dow has set some 36 record high closings since the 2016 presidential election. Wall…