Greenspan Penned ‘Irrational Exuberance’ 30 Years Ago. It Aged Well.
THE SO WHAT
The retrospective on Greenspan’s “irrational exuberance” speech is a reminder that narratives about bubbles tend to lag actual capital flows. If you’re allocating into AI or deep tech, separate your thesis from the current story arc—price your risk on fundamentals and adoption curves, not on whether commentators are calling it a bubble yet.
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