Stock Market Record Highs: A Case Of Rational Exuberance

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bluebay2014 I love a good record-breaking performance. When I was a child, I voraciously read the Guinness Book of World Records. I was less inspired by such feats as the first gymnast to score a perfect “10” (since I knew I couldn’t even do a somersault) but I was very inspired by the person who was able to put the most socks on one foot in 30 seconds or the person who was able to stretch the most rubber bands across their face in one minute. (My 10-year-old self thought those records were “beatable.”) A few weeks ago, I celebrated...