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Irrational Exuberance (Abridged) Audiobook
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(3.03) - 1,103 listener ratings
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With a new Afterword on the current state of the stock market, the ongoing debate over the “new economy,” and the larger implications of “irrational exuberance.” In this controversial, hard-hitting account of today’s explosive market, Robert J. Shiller, a leading expert on market volatility, evokes Alan Greenspan’s infamous 1996 reference, “irrational exuberance,” to explain the alternately soaring and declining stock market. Shiller’s unconventional yet persuasive argument credits an unprecedented confluence of events with driving stocks to uncharted heights, and he analyzes the structural, cultural, and psychological factors behind these levels of growth not reflected in any other sector of the economy. Now more relevant than ever, this analysis is both chilling and convincing—a must-read for the individual investor, the policy maker, and the investment professional.
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"This is definitely not a light read, as it took me a couple of months to get through it. Shiller's style is very academic, with a fair amount of data/data analysis. He is also, in a word, brilliant. He provides many convincing arguments against efficient markets, predicting the .com bubble just months before it happened. Of course it is even more applicable today after the recent real estate bubble burst. My only other complaint was the recommendations he made. After providing strong evidence proving his point, he didn't really convince me on the best way to address the issues at hand. Maybe that was the intention; that we must be human beings who make mistakes even in the stock market."
— Christie (4 out of 5 stars)
Awards
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Nominated for Audie Awards, 2001
Irrational Exuberance Listener Reviews
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" Robert Shiller is such an amazing analytically mind and a very unpretentious personality. The book is not the number crunching approach of the Case Shiller Index, but a spot on identification of the booms we have suffered, yes, Suffered in the past 2 decades. Great information for anybody, not just figureheads. "
— Glenn, 2/18/2014 -
" I don't know if the author took any stance in particular, except that there are many stances one could take "
— Devin, 2/18/2014 -
" Solid overview on markets and speculation. Most likely this should be required reading on what makes a bubble, what the market might have been like (as opposed to what we think its been like) and just a great overall read - albeit a little dry "
— Allisonperkel, 2/5/2014 -
" Want to know why I already have one kid and another on the way but have not yet purchased a home? Blame it on Shiller. Don't tell Sarah, though, because she'll find and tell him to change my mind. "
— Paul, 2/4/2014 -
" Reference book on stock market behavior, bubbles etc. Very insightful and written in relatively easy language "
— Giorgos, 1/19/2014 -
" Disheartingly realistic. If you have a good knowledge of the stock market, this is a must read for expanding your knowledge of behavioral finance. His predictions were as spot-on as magic. "
— Alejandro, 1/19/2014 -
" Good fundamentals of market movements and reactionary investment tendencies, but fairly basic in its analysis of recent market phenomena. "
— Robb, 12/15/2013 -
" Riveting book which took my knowledge of economics to the limit. A bit heavy, but worth it. "
— Donna, 12/15/2013 -
" This book, published in 2000, suffers some from it's success -- after a decade of Shiller's predicted negative stock market returns & the rise of behavioral finance, a lot of this book's once-fresh ideas are now common. "
— Sam, 11/24/2013 -
" One of the people who has the right to say "I told you so" about the current economic crisis. It's not clear if the intended audience of this book is wonks or laypeople. "
— Julia, 11/22/2013 -
" What causes bubbles? Schiller answers this question is a balanced, credible, and honest way, based on multiple examples from major stock market crashes. The analyses are clear and accessible, even for those who do not much about finance. I strongly recommend it! "
— Erin, 10/24/2013 -
" Great book. Explains the mentality and economic principles behind bubbles, especially the recent tech and housing bubbles. "
— Josh, 9/22/2013 -
" Excellent book. The words "irrational exuberance" defines culture of the past 2 decades. "
— Sébastien, 5/13/2013 -
" I couldn't resist a book with a chapter called, 'Naturally Occurring Ponzi Processes'. "
— Donna, 5/4/2013 -
" The updated version contains plenty of insightful data on the recent real estate bubble. Highly recommended! "
— Norbert, 2/25/2013 -
" Outstanding analysis of the US stock market before the dotcom and 2008 busts. A defining financial book of these turbulent times. "
— Derek, 9/18/2012 -
" Nice book for behavioral finance. Best book to understand dot com bubble in beginning of 21st century. "
— Zhong, 8/13/2012 -
" A little dry, but exhaustive in detail. Changed the way I look at the stock market and economic news. I only wish I had an updated version; this one predates the 2002 bubble burst. "
— John, 5/31/2012 -
" A good overview of some of the psychological and cultural factors that lead to stock market bubbles. "
— Wendy, 5/3/2012 -
" Shiller is rock star/sex pot economist! Man crush! A veritable Chuck Norris of economic thought. "
— Justin, 8/26/2011 -
" A little dry, but exhaustive in detail. Changed the way I look at the stock market and economic news. I only wish I had an updated version; this one predates the 2002 bubble burst. "
— Perich, 3/3/2011 -
" Starting with the conclusion that the stock market rise in the late 1990s was not justified in terms of earnings, Shiller explores what social, psychological, and other grounds led to the rise, & what might be done to ameliorate future bubbles <br/> "
— Converse, 7/5/2010 -
" One of the people who has the right to say "I told you so" about the current economic crisis. It's not clear if the intended audience of this book is wonks or laypeople. "
— Julia, 5/3/2009 -
" The updated version contains plenty of insightful data on the recent real estate bubble. Highly recommended! "
— Norbert, 4/5/2009 -
" Great book. Explains the mentality and economic principles behind bubbles, especially the recent tech and housing bubbles. "
— Josh, 10/5/2008 -
" Solid overview on markets and speculation. Most likely this should be required reading on what makes a bubble, what the market might have been like (as opposed to what we think its been like) and just a great overall read - albeit a little dry "
— Allisonperkel, 8/22/2008 -
" Good fundamentals of market movements and reactionary investment tendencies, but fairly basic in its analysis of recent market phenomena. "
— Robb, 4/22/2008 -
" Want to know why I already have one kid and another on the way but have not yet purchased a home? Blame it on Shiller. Don't tell Sarah, though, because she'll find and tell him to change my mind. "
— Paul, 1/8/2008 -
" A good overview of some of the psychological and cultural factors that lead to stock market bubbles. "
— Wendy, 12/26/2007 -
" 9/4/07 <br/> <br/>I learned that we're all going to lose our savings in a massive crash and we're doomed. <br/> <br/>Doomed. "
— Jason, 9/5/2007
About Robert J. Shiller
Robert J. Shiller is the author of Irrational Exuberance and The Subprime Solution. He is the coauthor, with George A. Akerlof, of Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism. He is the Arthur M. Okun Professor of Economics at Yale University.