There are also signs of irrational exuberance among some investors.
Women have about 10% as much testosterone as men, making them less prone to irrational exuberance.
International regulators have been issuing warnings to chief executives about a return of irrational exuberance.
The accolades bestowed upon Alan Greenspan ahead of his retirement on January 31st have a strong scent of irrational exuberance.
In a nutshell, they argued that, even in that period of wildly 'irrational exuberance,' shares were massively undervalued.
Third, it is argued, all this talk of new paradigms simply signals another manifestation of irrational exuberance: the overselling of emerging markets.
"There is probably a bubble in the number of start-ups," says Alan Patricof, a venture capitalist, though he is not yet convinced that there is irrational exuberance in later-stage valuations.
