Faculty Publications

Title

Here Are the Alarming Signs the Stock Market Is Overvalued

Document Type

Article

Publication Date

2-10-2017

Abstract

When referring to equity market valuations in a 1996 speech at the American Enterprise Institute, former Federal Reserve Chairman Alan Greenspan famously uttered the phrase "irrational exuberance." That phrase has become part of the popular lexicon and has been applied in many other contexts to describe overenthusiastic or unbridled expectations