Tech Bubble Talk Returns: Has Irrational Exuberance Returned To The Tech Sector?
During a speech in December of 1996, then Fed Chair Alan Greenspan uttered the somewhat immortal phrase “irrational exhuberance” while discussing asset values and the historical role of central banking. Although the context of his comment did not specifically reference 1996 stock valuations, investors inferred from the statement that Greenspan thought equity assets were overpriced….