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Introduction

In: STOCK MARKET CRASHES Predictable and Unpredictable and What To Do About Them

Author

Listed:
  • William T. Ziemba
  • Sebastien Lleo
  • Mikhail Zhitlukhin

Abstract

Trying to predict stock market declines or crashes is important to all investors and especially to speculative investors and hedge funds. Avoiding them or dealing with them greatly improves portfolio performance. But it is hard to predict these declines. Moreover, to quote Peter Lynch:Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselvesFinancial bubbles and crashes are certainly not new, and the most dramatic ones tend to leave a lasting memory. "The South Sea Bubble, a Scene in 'Change Alley in 1720'," reproduced in Figure 1.1, was painted by Edward Matthew Ward in 1847, nearly 130 years after the events but only a couple of years after another famous stock market bubble: Railway Mania…

Suggested Citation

  • William T. Ziemba & Sebastien Lleo & Mikhail Zhitlukhin, 2017. "Introduction," World Scientific Book Chapters, in: STOCK MARKET CRASHES Predictable and Unpredictable and What To Do About Them, chapter 1, pages 1-10, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813223851_0001
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    More about this item

    Keywords

    Stock Market Crashes; Brexit; Trump; Financial Bubbles;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General

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