Is this 1996 or 1999?

2 weeks ago 11

Rommie Analytics

Alan Greenspan’s infamous irrational exuberance speech is a classic example of how crazy markets can always get crazier. This was the actual text from his speech at a policy dinner in December of 1996: Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by pric...
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