Chapter Two
Rational Exuberance
-
Business Reality Trumps
Market Expectations.
THAT WONDERFUL PARABLE ABOUT the Gotrocks family
in Chapter 1 brings home the central reality of investing:
“The most that owners in the aggregate can earn between
now and Judgment Day is what their business in the aggre-
gate earns,” in the words of Warren Buffett.

Chapter Two Rational Exuberance - Business Reality Trumps Market Expectations. THAT WONDERFUL PARABLE ABOUT the Gotrocks family in Chapter 1 brings home the central reality of investing: “The most that owners in the aggregate can earn between now and Judgment Day is what their business in the aggre- gate earns,” in the words of Warren Buffett.

Rational Exuberance

To Paul A. Samuelson, professor of economics 
at Massachusetts Institute of Technology, 
Nobel Laureate, investment sage.
In 1948 when I was a student at Princeton 
University, his classic textbook introduced me 
to economics. In 1974, his writings reignited my 
interest in market indexing as an investment strategy.
In 1976, his Newsweek column applauded my cre-
ation of the world’s first index mutual fund. In
1993, he wrote the foreword to my first book, and
in 1999 he provided a powerful endorsement for my
second. Now in his ninety-second year, he remains
my mentor, my inspiratio

Arts

Books

To Paul A. Samuelson, professor of economics at Massachusetts Institute of Technology, Nobel Laureate, investment sage. In 1948 when I was a student at Princeton University, his classic textbook introduced me to economics. In 1974, his writings reignited my interest in market indexing as an investment strategy. In 1976, his Newsweek column applauded my cre- ation of the world’s first index mutual fund. In 1993, he wrote the foreword to my first book, and in 1999 he provided a powerful endorsement for my second. Now in his ninety-second year, he remains my mentor, my inspiratio

Share Rational Exuberance

Sign up to save your podcasts

Rational Exuberance

Rational Exuberance