Irrational Exuberance?
from the bubbles dept
Now that it's fashionable to talk about how we've all been fooling ourselves, here are a couple of interesting articles in that space. First comes a review of Robert Shiller's incredibly well timed book, Irrational Exuberance. The review in Salon makes the book sound quite good as it doesn't simply retread the standard bubble explanations and comparisons, but does actually take a close look at this market, and the companies involved. At the same time we get a cover story from the New York Magazine written by James Cramer, a huge internet hyper over the past 4 years, telling us that the market has crashed and we're all fools to believe otherwise. I'm surprised when I hear things like this from otherwise intelligent people. Things were definitely over valued, but the ones that have crashed the most are the ones that don't have a sustainable business model, or a real plan. Real businesses that add real value seem to be doing okay, for the most part.
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
