From GMO’s Edward ChancellorThe Typical Characteristics of a Stock Market Mania1. This-time-is-different mentality. Throughout history, successive market manias have been rationalized with the argument that history is no longer a reliable guide to the future. Both the “new era” of the 1920s and “new paradigm” of the 1990s were marked by a “this-time-is-different” mentality. The same mode of thinking is […]
Good morning, and welcome to our rolling coverage of the financial markets, the world economy, the eurozone and business.Markets took the news that US interest rates could rises sooner than expected in their stride yesterday. New Fed chief Janet Yellen caught markets on the hop when she indicated that the first hike could come as early as March 2015. But […]
Good morning, and welcome to our rolling coverage of the financial markets, the world economy, the eurozone and business.Markets took the news that US interest rates could rises sooner than expected in their stride yesterday. New Fed chief Janet Yellen caught markets on the hop when she indicated that the first hike could come as early as March 2015. But […]
