In this widely acclaimed, best-selling book, Robert J. Shiller, a respected expert on market volatility, offers an unconventional interpretation of ...Show synopsisIn this widely acclaimed, best-selling book, Robert J. Shiller, a respected expert on market volatility, offers an unconventional interpretation of recent stock market highs and shows that Alan Greenspan's term "irrational exuberance" is a good description of the mood behind the market. He analyzes the structural and psychological factors that explain why share prices tripled between 1994 and 1999, a level of growth not reflected in any other sector of the economy. And he warns that poorer stock performance may be in the offing and tells us how we can respond. Irrational Exuberance is a must-read for anyone who doesn't want to be caught sitting on the speculative bubble if (or when) it bursts.Hide synopsis
Description:New. In this timely and prescient update of his celebrated 2000...New. In this timely and prescient update of his celebrated 2000 bestseller, Irrational Exuberance, Robert Shiller returns to the topic gained him international fame: market volatility. Shiller breaks new ground in this second edition by laying out in even clearer and starker terms the market excesses that continue to destabilize the economy and disrupt our lives. Having predicted the stock market collapse that began just one month after the first edition was published, he now expands the book to cover other markets that have become volatile, particularly the recently red-hot housing market. He includes a full chapter on domestic and international housing prices in historical perspective. Shiller amasses impressive evidence to support his argument that the recent housing market boom bears many similarities to the stock market bubble of the late 1990s, and may eventually be followed by declining home prices for years to come, After stocks plummeted when the bubble burst in 2000, investors moved their money into housing. This precipitated the inflated real estate prices not only in America but around the world, Shiller maintains. Hence, irrational exuberance did not disappear-it merely reappeared in other settings. Building on the original edition Shiller draws out the psychological origins of volatility in financial markets this time folding real estate into his analysis. He broadens the evidence that investing in capital market of all kinds in the modern free-market economy is inherently unstable-subject to the profoundly human influences captured in Alan Greenspan? s now-famous phrase, irrational exuberance. The ultimate solution to this troubling condition, he maintains would involve better-designed public institutions such as a revamped social security system, new forms of insurance to protect people? s incomes and homes, and a broader array of investment options. As was true of its predecessor, the second edition of Irrational Exuberance is destined to be widely read, discussed, and debated. Printed Pages: 332..
Description:Very Good. Great condition for a used book! Minimal wear....Very Good. Great condition for a used book! Minimal wear. Shipped to over one million happy customers. Your purchase benefits world literacy!
Description:Good. Book shows minor use. Cover and Binding have minimal wear...Good. Book shows minor use. Cover and Binding have minimal wear, and the pages have only minimal creases. Free State Books. Never settle for less.
Description:Good. Connecting readers with great books since 1972. Used books...Good. Connecting readers with great books since 1972. Used books may not include companion materials, some shelf wear, may contain highlighting/notes, may not include cdrom or access codes. Customer service is our top priority!
Description:Good. Connecting readers with great books since 1972. Used books...Good. Connecting readers with great books since 1972. Used books may not include companion materials, some shelf wear, may contain highlighting/notes, and may not include cd-rom or access codes. Customer service is our top priority!
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited, Baker & Taylor, Inc., or by their respective licensors, or by the publishers, or by their respective licensors. For personal use only. All rights reserved. All rights in images of books or other publications are reserved by the original copyright holders.
You're signed up (and we ♥ you). Watch for our Welcome e-mail and your first coupon. Thanks!