Book Summary for future reference
2012-03-25
因为这本书从学术角度看，结构非常清晰，所以关于本书的摘要只要看每章的标题就可以了解本书了。
The evidence of irrational exuberance
The Stock Market in Historical Perspective
The Real Estate Market in Historical Perspective
Structural Factors
Precipitating Factors:
The Capital Explosion
The Internet
and the other Events
Amplification Mechanisms:
Naturally Occurring Ponzi Processes
Cultural Factors:
1. The News Media
"The news media are in constant competition to capture the public attention they need to survive. Survival for them requires finding and defining interesting news, focusing attention on news that has word-of-mouth potential, and, whenever possible defining an ongoing story that encourages their audience to remain steady customers."
Media cultivation of Debate; Reporting on the Market Outlook; News as the Precipitator of Attention Cascades;
2. New Era Economic Thinking
3. New Eras and Bubbles around the World
Psychological Factors:
Psychological Anchors for the Market
Herd Behavior and Epidemics
Attempts to Rationalize Exuberance
Efficient Markets, Random Walks, and Bubbles
Investor Learning - and Unlearning