Plus, you'll never beat irrationality with logic. 

Since speaking with Ralph, Matt, and Moneyman, my irrational exuberance has dwindled, and my friends and I have all agreed that we need to practice on simple properties first.

Sometime I run what are most likely irrational scenarios in my head about what COULD happen and the liquidity of the stocks makes me feel better.

It's a hot market, but I don't think people are too irrational.

It's a little irrational but it's spreading.

But Keynes has a great quote that sums up the current madness: "The market can remain irrational longer than you can remain solvent."

Without getting stuck in analysis paralysis, try to poke holes in all those irrational fears. 

I feel this is wrong in my thinking as obviously, people don't all have my standards, but man, it makes me not want to own that deal for the short 6 or so months because my probable irrational mind keeps saying, "You wouldn't buy a house in this neighborhood!

For example, in the 2009-2012 period, multifamily was a clear winner because there was a huge tenant demand coupled with fire sales and irrational investor fear.

So she waited until September, told me about it right when I started following BP and so here we are...)Lisa:  this looks totally irrational to me.