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Irrational Exuberance. Nothing personal word of the day for Tuesday, August 3rd, 2021.

Irrational Exuberance is a phrase that is mostly used to describe an economic state where investors

get all excited. Irrational Exuberance was when everybody was buying GameStop or GameShop

or AMC and all that stuff that was going on. It's when investor enthusiasm drives prices higher than

the fundamentals justify. But I use Irrational Exuberance in the sports context. I've used that a

lot in speeches and when I'm talking to fans, don't be a rationally exuberant. Don't start

celebrating a championship in the off season. I used to suffer from a huge case of the irrational

exuberances until I learned over the years that the reason why it's called irrational exuberances

because it's not rational for you to be exuberant. Because when you're exuberant, it means hey,

things are great. But in fact, things suck. And you're being irrational because you don't want to

believe things or bads. You say, hey, things are really good. The NBA is the number one example,

always of irrational exuberance. Now, of course, it happens in baseball during the off season when

signings are made or at the deadline when trades are made. There's a level of irrational exuberance

that happens. We'll talk about later in the show with the Yankees, let's say football a little bit,

you know, you bring in Tom Brady into Tampa and say, wow, I'm a rationally exuberant. Our team

is great. We're going to win the Super Bowl. Sometimes your exuberance is rational. Sometimes it

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