Common
Irrational exuberance
Unfounded market optimism that lacks fundamental valuation
Irrational exuberance
"Irrational exuberance" is a phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a December 1996 speech given at the American Enterprise Institute during the dot-com bubble of the 1990s. The phrase was interpreted as a warning that the stock market might be overvalued.
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