AN IRRATIONAL SHAREHOLDER? Kids, let me take an example closer to home. I own some Chevron stock. A share of Chevron stock was selling in the low $80’s in March, soared to $104 in May, and fell precipitately (some might say sickeningly) in July to the low $80’s today–roughly where it was before the “bubble”. If I were to sell it now, I would not feel the same way about the price as I would have if I had sold in March. Am I irrational from an economist’s point of view?
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