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
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