Alan Greenspan

Alan Greenspan talked about irrational exuberance in 1996, and Wall Street wasn't until 2000 that the exuberance really burst, so Wall Street's a very hard thing.

Allen Greenspan who was then chairman of the Federal Reserve

Just over two decades ago Allen Greenspan who was then chairman of the Federal Reserve coined the term irrational exuberance, however, greed might have been just appropriate.

Former Fed Chair Greenspan

Interestingly, Former Fed Chair Greenspan discussed “irrational exuberance” in a speech delivered December 5, 1996, about 10 days after that high in the 14-day RSI” [Amherst Pierpont Securities, Across the Curve].

Alan Greenspanused

And then a few days later, Alan Greenspanused the words "irrational exuberance," which became the title of a book of yours.

Robert Shiller

Robert Shiller also introduced into intellectual circulation the phrase “irrational exuberance,” which was picked up famously by Alan Greenspan in 1996.

Greenspan

As you may remember, Greenspan coined the term irrational exuberance in 1996 to describe financial markets, then turbocharged stocks by cutting rates, causing the dot.com bubble and responded to the stock market crash by cutting rates and causing the biggest real estate bubble in history, until now.