Random walk; short run changes in stock prices are unpredictable.

Investing theory; firm foundation(firm value)/ castle in the air theory(psychological-behavioral finance, mass psychology

2.madness of crowds
Tulip-bulb craze/ the South Sea bubble(England)/Black Thursday (10/24/1929)-Wall Street lays an egg,95% drop

Everything’s got a moral if only you can find it.-Alice;s adventures in wonderland

4.explosive bubbles of the early 2000s
Internet bubble/ housing bubble


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