Bob's Irrational Exuberance

Yale professor Bob Greene warned that the stock market had reached irrational levels. He became a Bettenoir of Wall Street in the real estate industry. In 2005, he warned publicly that real house prices could fall 40% of the coming generation. The bursting of the housing bubble would, in all likelihood, cause a recession,. It's easy to forget just how radical a position this was for a self-respecting Yale professor.