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Drawn from fascinating investor surveys and historical research, IRRATIONAL EXUBERANCE provides a unique perspective, synthesizing a broad range of information into a detailed picture of the market today. Exploring all the factors, from media hype to herd behavior and even the popularity of personal finance books, award winning economics professor and author Robert J. Shiller makes sense of a market gone mad. Discussing parallels to the 19205, and other booms throughout history, as well as proposals for investing a portion of Social Security funds in the market, Shiller offers policy prescriptions for the dangerously speculative U.S. economy. Written in a clear, engaging style that will appeal both to individual investors and financial professionals, IRRATIONAL EXUBERANCE contains essential wisdom for readers from Main Street to Wall Street.

"Yale economist Robert Shiller is well known in scholarly circles for stressing the importance of psychology in financial markets....In [this book], Mr. Shiller describes this work in layman's terms and presents a clear exposition of the psychological and often irrational influences in financial markets....[His] book offers a dose of realism...that serious investors will ignore at their peril."

Burton G. Malkiel, Wall Street Journal, 04/04/2000

"[The] first 168 pages are must reading for anyone with savings invested in stocks."

Louis Uchitelle, New York Times Book Review, 05/07/2000

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