Irrational exuberance
UNFOUNDED MARKET OPTIMISM THAT LACKS FUNDAMENTAL VALUATION
Irrational exuberance (finance); Irrational Exuberance; Irrational Exhuberance; Unwarranted optimism; "Irrational exuberance"
"Irrational exuberance" is the phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a speech given at the American Enterprise Institute during the dot-com bubble of the 1990s. The phrase was interpreted as a warning that the stock market might be overvalued.