The Trouble with Stock Market Bubbles

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. ▶️ Subscribe to the Take 15 Podcast YouTube channel: https://www.youtube.com/channel/UCA3HUMuK4FSp_CvQH_2Ji7g?app=desktop 📃Transcript: https://cfainst.​is/3bGIAUP 📧 Email us for comments, questions, or appearance requests:[email protected] ___________________________________________________________________________ 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? ___________________________________________________________________________ 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 ___________________________________________________________________________ Find Lauren here: LinkedIn: https://www.linkedin.com/in/lauren- foster/ Twitter: https://twitter.com/laurenfosternyc