You've heard of "irrational exuberance," right? That's the expression Alan Greenspan coined more than a decade ago when he warned that investors could be bidding stock prices too high. His worry was that escalating asset values were trumping reality.Markets face 'irrational pessimism': Financial News - Yahoo! Finance
These days, the opposite seems to be the case. Call it "irrational pessimism," a fear that stock prices are headed in only one direction -- lower and lower -- because asset values and profits seem certain to fall.
Friday, March 6, 2009
Markets face 'irrational pessimism': Financial News - Yahoo! Finance
Posted by Anthony J. Pennings, PhD at 4:14 PM