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William Goetzmann, Yale University Print
Wednesday, 13 March 2019, 16:30 - 18:00

Joint with NBB, KULeuven, UA, UCL, UGent, ULB, ULg, UMons, UNamur, USaint-Louis, Vlerick, VUB 

William Goetzmann, Yale University

Bubbles and Crashes: Perception vs. Reality

Abstract:  Market bubbles fascinate us despite being extremely rare. While many fear a crash after a boom, what goes up does not often come down. On the other hand, stock markets are more likely to recover after an extreme market decline. These patterns contradict common perceptions. My analysis with my coauthors of 25 years of survey data show that investors irrationally overestimate the probability of a market crash. Individual investors are particularly susceptible to priming by news of unrelated rare events.

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Location: NBB-Room A, Entrance: Warmoesberg 61, 1000 Brussels
Please reply by email to nbbfinancial.seminar@nbb.be if you wish to participate to this seminar or if you want to have an appointment with the speaker.

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