Yes, Warren would strongly agree with the author. I found this link with a good 5 page summary of the book. I read it 18 months ago. It was interesting, though I preferred 'Devil take the hindmost' which is a fascinating history of stockmarket manias over a 400 year period.
This story is taken from a public lecture given by Yale economist Robert Shiller at the London School of Economics and Political Science on June 5, 2000.
EDITOR'S INTRODUCTION | In his latest book, Irrational Exuberance, Yale economist Robert Shiller offers an unconventional interpretation of recent US stock market highs. He examines the public fascination with the stock market, and draws attention to a combination of precipitating factors that drive stocks higher. Shiller views the current market as vastly overvalued. He argues that the factors conspiring to construct and magnify this event--"the baby boom effect"; the public's infatuation with the Internet; "new era theories," in which the popular perception is that the future is brighter or less uncertain than it was in the past; and the rise of the mutual fund industry--mean that the market will most certainly fall.
