Didier Sornette: Why Stock Markets Crash

Cover: 9780691175959 | Why Stock Markets Crash | Critical Events in Complex Financial Systems

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Sprache: Englisch

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Beschreibung

Most attempts to explain market failures seek to pinpoint triggering mechanisms that occur hours, days, or weeks before the collapse. Sornette proposes a radically different view: the underlying cause can be sought months and even years before the abrupt, catastrophic event in the build-up of cooperative speculation, which often translates into an accelerating rise of the market price, otherwise known as a "bubble." Anchoring his sophisticated, step-by-step analysis in leading-edge physical and statistical modeling techniques, he unearths remarkable insights and some predictions--among them, that the "end of the growth era" will occur around 2050. Sornette probes major historical precedents, from the decades-long "tulip mania" in the Netherlands that wilted suddenly in 1637 to the South Sea Bubble that ended with the first huge market crash in England in 1720, to the Great Crash of October 1929 and Black Monday in 1987, to cite just a few. He concludes that most explanations other than cooperative self-organization fail to account for the subtle bubbles by which the markets lay the groundwork for catastrophe.

Über den Autor

Didier Sornette is professor of entrepreneurial risks at the Swiss Federal Institute of Technology in Zurich, professor of finance at the Swiss Finance Institute in Geneva, and the director of the Financial Crisis Observatory at ETH Zurich.

Erscheinungsjahr:	2017
Fachbereich:	Allgemeines
Genre:	Wirtschaft
Rubrik:	Recht & Wirtschaft
Medium:	Taschenbuch
Inhalt:	Kartoniert / Broschiert
ISBN-13:	9780691175959
ISBN-10:	0691175950
Sprache:	Englisch
Einband:	Kartoniert / Broschiert
Autor:	Sornette, Didier
Zusammengestellt:	Sornette, Didier
Hersteller:	Princeton University Press
Maße:	216 x 138 x 32 mm
Von/Mit:	Didier Sornette
Erscheinungsdatum:	21.03.2017
Gewicht:	0,518 kg

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