We investigate the long‐time properties of the two‐dimensional inviscid Boussinesq equations near a stably stratified Couette flow, for an initial Gevrey perturbation of size ε. Under the classical Miles‐Howard stability condition on the Richardson number, we prove that the system experiences a shear‐buoyancy instability: the density variation and velocity undergo an inviscid damping while the vorticity and density gradient grow as . The result holds at least until the natural, nonlinear timescale . Notice that the density behaves very differently from a passive scalar, as can be seen from the inviscid damping and slower gradient growth. The proof relies on several ingredients: (A) a suitable symmetrization that makes the linear terms amenable to energy methods and takes into account the classical Miles‐Howard spectral stability condition; (B) a variation of the Fourier time‐dependent energy method introduced for the inviscid, homogeneous Couette flow problem developed on a toy model adapted to the Boussinesq equations, that is, tracking the potential nonlinear echo chains in the symmetrized variables despite the vorticity growth.