3 ms·
>I don't think both can be mutually exclusive. For a bubble to occur investors have to be irrationally exuberant. Not necessarily. They could just be thinking
by crdoconnor 8y ago
>I don't think both can be mutually exclusive. For a bubble to occur investors have to be irrationally exuberant.
Not necessarily. They could just be thinking that everybody else is irrationally exuberant.
c.f. https://en.wikipedia.org/wiki/Keynesian_beauty_contest https://en.wikipedia.org/wiki/Keynesian_beauty_contest