David DeRosa, author of “Bursting the Bubble: Rationality in a Seemingly Irrational Market,” a new monograph from the CFA Institute Research Foundation, discusses his conclusions on whether speculative bubbles exist in the stock market.
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Episode Breakdown:
1:35 David talks about the journey of writing his book
3:55 Are there no bubbles?
7:31 If they’re not bubbles, what do you call them?
8:48 Why David believe the Dutch Tulipmania was not a bubble
11:32 John Law
14:17 David taking issue with some of the most famous people in the field, specifically Robert J. Shiller
21:40 David talks about bitcoin
24:35 Is there a bubble brewing in NFTs?
26:25 Explaining the .com and housing “bubble”
30:35 Wrap-up questions
- Ray of sunshine question: one positive long-lasting change David hopes to see as a result of the pandemic
- One item David would take with him on a NASA flight
- Flight v. Invisibility?
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Related articles and links:
Monograph: https://www.cfainstitute.org/en/research/foundation/2021/bursting-the-bubble
The book "Extraordinary Popular Delusions and the Madness of Crowds" by Charles Mackay: https://www.simonandschuster.com/books/Extraordinary-Popular-Delusions-and-the-Madness-of-Crowds/Charles-MacKay/9781625585011
Book of photographs from Ancient Egypt: https://www.amazon.com/Images-Ancient-Egypt-David-DeRosa/dp/1364927071
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