Robert Shiller showed with his Nobel-prize-winning research that irrational exuberance is a thing. Back in the days when the Buy-and-Hold strategy was being developed, there was a widespread academic belief that the stock market was efficient. If that were so, investors would make rational choices, and neither overvaluation nor undervaluation… Continue reading The More Frequently Irrational Exuberance Is Discussed, the Less of It We Will See

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