Irrational Exuberance

Irrational Exuberance

Paperback Broadway Books

By (author) Stanley B Resor Professor of Economics Robert J Shiller

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  • Publisher: Doubleday & Co Inc.
  • Format: Paperback | 304 pages
  • Dimensions: 156mm x 232mm x 22mm | 360g
  • Publication date: 1 July 2009
  • Publication City/Country: New York
  • ISBN 10: 0767923634
  • ISBN 13: 9780767923637
  • Edition: 2
  • Edition statement: 2nd
  • Sales rank: 12,850

Product description

Drawn from investor surveys and research, Irrational Exuberance synthesizes a broad range of information into a detailed picture of the market today. Written in a clear, engaging style for individual investors and financial professionals, the book contains essential wisdom for readers from Main Street to Wall Street.

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Author information

Robert J. Shiller is the Stanley B. Resor Professor of Economics at Yale University. He is the recipient of the 2000 Commonfund Prize, awarded for Best Contribution to Endowment Management Research, for Irrational Exuberance. He is also the author of Market Volatility and Macro Markets, which won the 1996 Paul A. Samuelson Award.

Review quote

"Robert Shiller has done more than any other economist of his generation to document the less rational aspects of financial markets." -- Paul Krugman "A modern classic of 'serious' economics that demands to be read, and can be enjoyed, by the interested nonspecialist." -"The Economist" "A dose of realism that serious investors will ignore at their peril." --"The Wall Street Journal" "The point of "Irrational Exuberance" is not to help investors dump their houses before the current exuberance fades. It is to deepen our understanding of the events we are watching as one bubble gives birth to another." --"The International Herald Tribune" ""Irrational Exuberance" [is] a dazzling, richly textured, provocative book . . . offering a cogent statement of the bears' view of events to come. Shiller is not merely a bear--he is a grizzly." --"BusinessWeek "

Flap copy

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.