"Not all bubbles involve the extension of credit; some are based on equity leveraging. The best examples are the conglomerate boom of the late 1960s and the Internet bubble of the late 1990s. When Alan Greenspan spoke about irrational exuberance in 1996 he misrepresented bubbles. When I see a bubble forming I rush in to buy, adding fuel to the fire. That is not irrational. And that is why we need regulators to counteract the market when a bubble is threatening to grow too big, because we cannot rely on market participants, however well informed and rational they are."
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Activists from the United StatesPolitical activistsSocial activistsPeople from BudapestAcademics from Hungary
Original Language: English
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Transcript of a lecture about financial markets given by George Soros at Central European University on October 27, 2009.
https://en.wikiquote.org/wiki/George_Soros
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George Soros
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