"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:
“It is not to be forgotten that what we call rational grounds for our beliefs are often extremely irrational attempts to justify our instincts.”
—Thomas Henry Huxley (1825–95)
“Are sailors, frequenters of fiddlers’ greens, without vices? No; but less often than with landsmen do their vices, so called, partake of crookedness of heart, seeming less to proceed from viciousness than exuberance of vitality after long constraint: frank manifestations in accordance with natural law.”
—Herman Melville (1819–1891)