"Irrational exuberance" is a phrase used by the then-Federal Reserve Board Chairman, Alan Greenspan, in a speech given at the American Enterprise Institute during the Dot-com bubble of the 1990s. The phrase was interpreted as a warning that the market might be somewhat overvalued.
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Famous quotes containing the words irrational and/or exuberance:
“How did reason enter the world? As is fitting, in an irrational way, accidentally. We will have to guess at it, like a riddle.”
—Friedrich Nietzsche (1844–1900)
“Each man too is a tyrant in tendency, because he would impose his idea on others; and their trick is their natural defence. Jesus would absorb the race; but Tom Paine or the coarsest blasphemer helps humanity by resisting this exuberance of power.”
—Ralph Waldo Emerson (1803–1882)