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| Author: | Fisher, K. L. Statman, M. |
| Title: | Blowing Bubbles |
| Journal: | Journal of Psychology and Financial Markets
2002 : VOL. 3:1, p. 53-65 |
| Index terms: | INVESTMENT INVESTMENT ANALYSIS MARKETS INVESTORS |
| Language: | eng |
| Abstract: | The forecasts of individual investors, surveyed by Gallup/PaineWebber, imply that they believed that the market was in a bubble in the late 1990s and expected the bubble to continue to inflate; many investors thought that the stock market was overvalued in the late 1990s but many also thought that it was a good time to invest. The forecasts of institutional investors, surveyed by Business Week, imply that they too believed that the market was in a bubble in the late 1990s, but they expected the bubble to burst. Institutional investors were bearish in the late 1990s, but turned bullish after the stock market decline of 2000, while individual investors turned bearish. |
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