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Irrational Exuberance: Revised and Expanded Third Edition,New
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Why the irrational exuberance of investors hasn't disappeared since the financial crisisIn this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prizewinning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 20089 financial crisis. With high stock and bond prices and the rising cost of housing, the postsubprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing marketsand famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. It also includes updated data throughout, as well as Shiller's 2013 Nobel Prize lecture, which places the book in broader context. In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severityand suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read this book.
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- Q: What is the main theme of 'Irrational Exuberance'? A: The main theme of 'Irrational Exuberance' is the psychological factors that drive market volatility and the presence of asset bubbles, particularly in stock, housing, and bond markets.
- Q: Who is the author of 'Irrational Exuberance'? A: The author of 'Irrational Exuberance' is Robert J. Shiller, a Nobel Prize-winning economist known for his insights on market behavior.
- Q: What edition of the book is available? A: The available edition is the 'Revised and Expanded Third Edition', which includes updated data and new sections covering the bond market.
- Q: When was 'Irrational Exuberance: Revised and Expanded Third Edition' published? A: 'Irrational Exuberance: Revised and Expanded Third Edition' was published on August 16, 2016.
- Q: How many pages does 'Irrational Exuberance' contain? A: 'Irrational Exuberance' contains a total of 392 pages.
- Q: What type of binding does the book have? A: The book is available in paperback binding.
- Q: Is 'Irrational Exuberance' suitable for beginners in economics? A: 'Irrational Exuberance' is accessible to readers with various levels of understanding in economics, making it suitable for both beginners and those with more advanced knowledge.
- Q: Does 'Irrational Exuberance' include policy recommendations? A: 'Irrational Exuberance' not only diagnoses the causes of asset bubbles but also recommends urgent policy changes to mitigate their occurrence and severity.
- Q: What are the key investment markets discussed in this edition? A: This edition expands its discussion to include the stock market, housing market, and bond market, addressing all major investment areas.
- Q: Can 'Irrational Exuberance' help with personal investment strategies? A: 'Irrational Exuberance' provides insights and recommendations that can help individuals understand market behavior and potentially reduce risks in their investment strategies.