Thanks, MTP! 

 I already posted about his passing in the stocks thread a few hours ago here in case anyone missed it although AG’s passing is deserving of its own thread:

https://www.marketforum.com/forum/topic/120945/#121018

 I disagree with MTP about his looking 100 at 75. I thought he looked vibrant even at 79 when he finished his last term as Fed Chair. Having a significantly younger wife (Andrea Mitchell) didn’t hurt. And that may have helped him to live a blessed long life. <G>

 He had enormous respect as evidenced by his being renominated by POTUS’ of both parties.

 Does anyone remember the CNBC “briefcase indicator”? The thicker the stuff in his briefcase going into a Fed Meeting, the higher the chance for a rate increase. <G>. I’m not making this up! CNBC had a lot of fun with this. I’ll never forget!

     Previous thread:           VERY bad time to invest in the stock market!!            

                                                        Started by metmike - June 18, 2026, 2:56 p.m.   

https://www.marketforum.com/forum/topic/120945/

Thanks, Mike!

RIP, Alan Greenspan!

He was the best!!!

Alan Greenspan

https://en.wikipedia.org/wiki/Alan_Greenspan

Irrational exuberance

https://en.wikipedia.org/wiki/Irrational_exuberance

"Irrational exuberance" is the phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a December 1996 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.

Greenspan wrote in his 2008 book that the phrase occurred to him in the bathtub while he was writing a speech.^[4]

The irony of the phrase and its aftermath lies in Greenspan's widely held reputation as the most artful practitioner of Fedspeak, often known as Greenspeak, in the modern televised era.  The speech coincided with the rise of dedicated financial TV channels around the world that would broadcast his comments live, such as CNBC. Greenspan's idea was to obfuscate his true opinion in long complex sentences with obscure words so as to intentionally mute any strong market response.^[5]

The phrase was also used by Yale professor Robert J. Shiller, who was reportedly Greenspan's source for the phrase.^[6] Shiller used it as the title of his book, Irrational Exuberance, first published in 2000, where Shiller states:

 Irrational exuberance is the psychological basis of a speculative bubble. I define a speculative bubble as a situation in which news of price increases spurs investor enthusiasm, which spreads by psychological contagion from person to person, in the process amplifying stories that might justify the price increases, and bringing in a larger and larger class of investors who, despite doubts about the real value of an investment, are drawn to it partly by envy of others' successes and partly through a gamblers' excitement

+++++++++++++++++

While no 2 events are exactly the same, history will often repeat itself for the same reasons. How ironic that we are discussing the man who recognized the dot.com bubble years before it burst, EXACTLY when the stock market is repeating his "irrational exuberance"!!!

The AI bubble is nowhere as extreme as the dot. com bubble. However the market is extremely over bought, over leveraged, unbalanced, over valued and unhealthy, very similar to when Greenspan recognized the exact same market dynamics that led to a crash that took the Nasdaq 15 years to recover from.

The president for the stock market, who's main agenda is to pump up and jaw bone the stock market higher has greatly contributed.

When that president is impeached, it's not just a question of the stock market falling hard by -XX%. The question is HOW far the double digit drop will be and how long (years) it will take to recover? 

We should remember that almost all the sources for information about the current stock market in 2026 and forecasts are the ones most heavily invested in the current bubble. This would be like getting your report about chicken health in the hen house by using the fox!!!

They (and investors) suffer from extreme bias in 2026.

How Cognitive Biases Can Negatively Affect Your Investment Decisions

https://fooletfs.com/insights/how-cognitive-biases-can-negatively-affect-your-investment-decisions           

Bad returns aren’t always a result of a bad market. Are you the problem?

Key Takeaways

• The human brain isn’t necessarily wired for time-intensive and objective analysis. That’s where cognitive biases come in.    
• Some of the most common cognitive biases in investing are confirmation bias, loss aversion, herd mentality, recency bias, and overconfidence bias        
• The more you understand the biases that could impact your investing decisions, the better equipped you are to avoid them.