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Bubleology by Kevin Hassett
Bubleology by Kevin Hassett
Bubleology by Kevin Hassett
There are only two categories of stocks: those safe from bubbles and those that are not. This is a truth of investing many discovered when they saw their great riches nibbled away by the terrible tragedy of the Internet sector.
But what about the future? Is there a way for investors to harness the huge potential for profit that lies at the frontier of the economy, the location where innovation and genius work, without placing their fortunes in jeopardy? Is there a method to examine price increases—and declines—and identify whether they are happening for good or negative reasons?
Bubbleology makes it easy to differentiate the winners from the losers. It is a smart, practical, and creative examination of the stock market that bashes the common thinking regarding bubbles, revealing that such renowned instances as Tulipomania were not, in fact, bubbles at all.
Bubbleology shows that the usual technique of gauging risk—equating it with volatility—is fundamentally inaccurate and inadequate. If a stock varies a lot in price it is seen as dangerous. If the price is stable, then it is not. What this naive way of thinking misses out is the simple truth that organizations doing something radically new that may profoundly alter the economic landscape are operating at the frontier. The stock of such a corporation swims in a sea of uncertainty, its conditions unknown, as there is little to give direction about the future. But since nobody knows for sure what will happen, commentators remind us again about Tulipomania, the South Seas Bubble, and now the fiasco of the Internet to scare investors away from possibly large rewards. To reap such returns, however, investors have to appreciate the role that uncertainty and ambiguity—the absence of solid knowledge about future events—play in the modern stock market. The enormous potential of the future will be missed by those who associate uncertainty with bubbles.
With the help of Bubbleology, you may study the market in a new way and determine if a stock or industry is risky or in a bubble, in which case it should be avoided. Knowing where to look and what to search for will help you find bubbles.
You can stay away from both entering speculative manias and avoiding perfectly fine business chances by using bubbleology. It explains why you ought to stay away from stock experts who are overconfident and pontificating commentators. You may examine suspect stocks, precisely assess risk, and identify a developing bubble with the help of this innovative and forward-thinking book before it disappears with your money.
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