Alan

The economic and financial world was recently saddened by the loss of Alan Greenspan, probably the most influential voice on matters of the market in recent memory, at the age of 100. Although his manner was quiet and subdued in public, the impact of his words was volcanic. On one memorable occasion in 1996, his use of the phrase "irrational exuberance" in an evening speech led to an immediate selloff in the Asian markets halfway around the world, with the Dow Jones Industrial Average falling by almost 4% over the ensuing two weeks. (Unfortunately, the effect did not last, and his concern over the emerging dot.com bubble that he was referring to became all too real a few years later.)

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