That butthead Louis Rukeyser was at it again — chortling about how investors ignored my cryptic "irrational exuberance" remark and sent the Nasdaq rocketing to record highs.
"A celebrity's politics, philosophy, irrational behavior, outrageous remarks or anything like that have never been cause to remove a Walk of Fame star," Johnny Grant, who formerly helmed the Walk of Fame, once told Variety.
Like the famous remark about "irrational exuberance" by Alan Greenspan, the chairman of the Federal Reserve, it has since helped to shape the global economic debate.The idea's appeal lies in the way it ties together two of the most vexing questions about today's economic landscape: why are interest rates so low?
Apart from Greenspan's notorious remark about "irrational exuberance" in the stock market, the Fed chief doesn't comment often on developments in the stock market.
Still, the market is getting used to Greenspans cautionary remarks about the stock market, and his warnings have had less influence recently than his notorious remark about "irrational exuberance" from a few years ago.
During that time, there have been more good years than bad for the U.S. economy, but Greenspan garnered much credit for the boom and little criticism for the bust, partly because he warned it might happen, as did many others, with his famous remark about "irrational exuberance".
The prosecution spent the first month of testimony calling witnesses who were close to Mrs. Astor and who told similar anecdotes about how she did not remember their names; made irrational and sometimes inappropriate remarks late in life; expressed her disdain for her daughter-in-law, Charlene Marshall; and had trouble with simple tasks.
In Continuity and Irrational Numbers (1872) he remarks that when the rational numbers are associated to points on a straight line, "there are infinitely many points [on the line] to which no rational number corresponds" so that the rational numbers manifest "a gappiness, incompleteness, discontinuity", in contrast with the straight line's "absence of gaps, completeness, continuity".
With infamous remarks about investors' "irrational exuberance" in December, Mr Greenspan began a series of public statements about a subject central bankers generally avoid.
As Keynes famously remarked, "the markets can remain irrational for longer than you can remain solvent".
As Keynes famously remarked, "the markets can remain irrational for longer than you can remain solvent". Longer, too, than can an AI trading system.
