Crash Course in Market Mania

Mint carried an article under the above title on 2 October 2007 by Narayan Ramachandran, MD of Morgan Stanley Investment Management.

It mentions a book "Can it happen again? Essays on Instability and Finance" Hyman Minsky.

Minsky identified seven stylized stages in bubble formation and bust: preference for risky assets increase, prices rise, cheap credit fuels the rise further, overtrading begins, leads to euphoria, insiders take profits, and the herd begins to panic.

People are talking and writing about bubbles. But many are not listening

Dow an advocate of value trading?

It seems so.


Dow concludes one his editorials with the statement 'To know values is to comprehend the meanings of movements in the market."

More details are posted in http://nrao-sapm-handbook.blogspot.com/2007/12/technical-analysis-topic-1.html

Dow Theory and Editorials of Dow -Nelson's Book

This topic was covered in detail in my blog Handbook of Security Analysis in the post

http://nrao-sapm-handbook.blogspot.com/2007/12/technical-analysis-topic-1.html