FYI: Market values crashed only one out of ten times following a major boom over the last 115 years, research has found.
Bubbles are extremely rare and attempts to avoid them entail substantial downside for investors, according to research.
Yale School of Management’s William Goetzmann argued in a paper that both investors and the media focus too much on “a few salient crashes in financial history.”
“Bubbles are booms that went bad,” he continued. “Not all booms are bad.”
Regards,
Ted
http://www.ai-cio.com/channel/ASSET-ALLOCATION/Fear-Not-the-Bubble,-Academic-Says/
