- Hardcover: 272 pages
- Publisher: Wiley; 1 edition (March 8, 2011)
- Language: English
- ISBN-10: 0470879467
- ISBN-13: 978-0470879467
- Product Dimensions: 6.3 x 1 x 9.3 inches
- Shipping Weight: 1.3 pounds (View shipping rates and policies)
- Average Customer Review: 22 customer reviews
- Amazon Best Sellers Rank: #130,727 in Books (See Top 100 in Books)
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Boombustology: Spotting Financial Bubbles Before They Burst 1st Edition
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' New MPs should certainly have this book on their reading list'. (Financial World, April 2011). a valiant attempt to add new perspective . (Economist.com, April 2011).
From the Inside Flap
THE WORLD IS in the midst of an accelerating sequence of booms and busts, and despite these developments, no organized multidisciplinary framework exists for thinking about them.
With the increased complexity and volatility surrounding financial bubbles, we need a more effective way to spot, and understand, these events. Based on his popular seminar at Yale University, Boombustology presents Vikram Mansharamani's multi-lens framework fore valuating the extremely elaborate social phenomenon of financial market booms and busts.
Unlike other finance books—which discuss making day-to-day investment decisions or the optimal strategy for a particular market—Boombustology will help you identify the "needle-moving" extremes that have the potential to render many traditional investment approaches useless.
- Divided into three comprehensive parts, this reliable resource: Develops five lenses—based upon the findings of various disciplines, from economics and psychology to politics and biology—that can be combined to evaluate financial extremes
- Examines the power of the multi-lens framework by applying it to five historical cases—Tulipomania, the Great Depression, the Japanese "Bubble Economy," the Asian Financial Crisis, and the U.S. Housing Boom and Bust—and demonstrates how the multidisciplinary approach might have helped to better understand these events as they took place
- Illustrates the framework in action by evaluating China as being in the midst of a potentially unsustainable boom
The framework found within these pages offers a robust understanding of the dynamics that precede, fuel, and ultimately reverse financial market extremes. Regardless of your economic or financial background, Boombustology will put you in a better position to spot financial bubbles before they burst.
Top customer reviews
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As an amateur investor for the last 15 years or so, I long ago concluded that the "efficient market theory" was an absurdity considering how frequently the markets exhibit irrational behavior.
But as to WHY markets often go crazy, I had never given it a lot of thought beyond explanations such as manipulation of money supply by central banks, and groupthink on the part of investors due to herd behavior.
The author of this book HAS given it a whole lot of thought. From this book I have gained a much broader understanding of the origins of booms and busts, and the fact that there are many forces that can drive markets into a positive feedback mode that leads them to spiral out of control rather than revert to the mean.
Although this book is not intended as an investment guide from a standpoint of predicting financial trends in the coming years in order to ride them, I expect that the insight it provides in identifying booms and busts will be as useful as anything else I will read in helping to guide my investment decisions.
One thing I appreciate in the book was the author's diligent job in ferreting out and quoting the most germane work by others that sheds insight into this issue. I was intrigued to see that Paul Krugman had done some excellent work in the past, in stark contrast to his current role as the crazy uncle in the basement who keeps shouting out the same nonsensical gibberish. Also fascinating was the insight George Soros had about "reflexive" tendencies, which I suspect was the key to his being able to become wealthy from financial speculation. (a pretty good testament to the practical value to an investor of the insights in this book!)
The knowledge in this book could probably do a whole lot more than just help individual investors steer a judicious path. If economic policy makers such as central bankers were able and willing to comprehend this material, it might make for a lot brighter economic future. Unfortunately, I suspect that they are too entrenched in their beliefs for that to happen.
Also, it goes into some reasons for why china is in a bubble, and why liberal arts education is great as a broad base of knowledge helps you connect pieces to the puzzle to spot bubbles by looking at the an issue from multiple viewpoints. All in all, this book won't be what you expect, but it's def worth the buy
Most recent customer reviews
I would think time would be better spent learning Austrian economics at mises.org and the business cycle.Read more
a cocktail of Austrians, Keynes, Minsky and many others.Read more
I would have given the book five stars but the author does not discuss the Internet bubble.Read more