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    Irrational Exuberance
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    Irrational Exuberance
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    Irrational Exuberance
    Audiobook (abridged)5 hours

    Irrational Exuberance

    Published by Penguin Random House Audio

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    Currently unavailable

    About this audiobook

    With a new Afterword on the current state of the stock market, the ongoing debate over the "new economy," and the larger implications of "irrational exuberance."

    In this controversial, hard-hitting account of today's explosive market, Robert J. Shiller, a leading expert on market volatility, evokes Alan Greenspan's infamous 1996 reference, "irrational exuberance," to explain the alternately soaring and declining stock market. Shiller's unconventional yet persuasive argument credits an unprecedented confluence of events with driving stocks to uncharted heights, and he analyzes the structural, cultural, and psychological factors behind these levels of growth not reflected in any other sector of the economy. Now more relevant than ever, this analysis is both chilling and convincing-a must-read for the individual investor, the policy maker, and the investment professional.


    From the Trade Paperback edition.
    LanguageEnglish
    PublisherPenguin Random House Audio
    Release dateOct 31, 2000
    ISBN9780375417122
    Unavailable
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    Reviews for Irrational Exuberance

    4/5

    154 ratings7 reviews

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    • 4/5
      Great book. Explains the mentality and economic principles behind bubbles, especially the recent tech and housing bubbles.
    • 3/5
      Lots of good general ideas, no concrete solutions though.
    • 4/5
      Listeners should know this book was published in 2000. History has confirmed many of the authors points (dot.com bubble & even the real estate market run up). It is interesting that even in 2000 the author highlights distribution of income/wealth as a growing threat.

      1 person found this helpful

    • 4/5
      It is good to be right. An exceptional book that provided me with a different mathematical model with which to look at the stock market. The author successfully integrates arguments from history, psychology, and economics to demonstrate how the "New Economy" was neither new nor economically viable. An excellent example of an academic creating an accessible book that becomes a best seller without resorting to excessive journalistic tendancies.

      1 person found this helpful

    • 4/5
      The book was well written and straightforward in its presentation and premises. Although one can't help but agree with the author's conclusion of a stock market bubble and its long-term impact, the author presents his psychological/sociological interpretation without basis far too often. I would have liked to see more substantiation of investor behavior and their motives; too often the author made assumptions about investor motivation.

      1 person found this helpful

    • 4/5
      I couldn't resist a book with a chapter called, 'Naturally Occurring Ponzi Processes'. That has to be my favourite title for anything in the last 10 years. Talk about the what that explains everything. "Donna, what happened to you? Are you just another fuck-up? Is that it? What happened to you?" "No. No! It's those naturally occurring ponzi processes. They get me every time. And now...(exhale)...they got me that one time too many." This book has a lot of information you don't know you need to know, explained clearly. Even if you have no money, and the taxman doesn't talk to you about poetry, it's good to be mindful of the steps in a random walk.
    • 5/5
      The rarest of beasts: a book by an academic economist that's approachable, clear and polymathic. Shiller weaves a narrative that includes social trends, psychology, history, behaviour theory, business fundamentals and government policy. Peppered with terrific insights and anecdotes, he makes a clear case for why 'efficient market theory' in investment is just plain wrong. A genuinely illuminating and entertaining read.