{"product_id":"boombustology-isbn-9781119575603","title":"Boombustology","description":"\u003cp\u003e\u003cb\u003eThe new, fully-updated edition of the respected guide to understanding financial extremes, evaluating investment opportunities, and identifying future bubbles \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNow in its second edition, \u003ci\u003eBoombustology\u003c\/i\u003e is an authoritative, up-to-date guide on the history of booms, busts, and financial cycles. Engaging and accessible, this popular book helps investors, policymakers, and analysts navigate the radical uncertainty that plagues today’s uncertain investing and economic environment. Author Vikram Mansharamani, an experienced global equity investor and prominent Harvard University lecturer, presents his multi-disciplinary framework for identifying financial bubbles before they burst. Moving beyond the typical view of booms and busts as primarily economic occurrences, this innovative book offers a multidisciplinary approach that utilizes microeconomic, macroeconomic, psychological, political, and biological lenses to spot unsustainable dynamics. It gives the reader insights into the dynamics that cause soaring financial markets to crash. Cases studies range from the 17\u003csup\u003eth\u003c\/sup\u003e Century Dutch tulip mania to the more recent US housing collapse.\u003c\/p\u003e \u003cp\u003eThe numerous cross-currents driving today’s markets—trade wars, inverted yield curves, currency wars, economic slowdowns, dangerous debt dynamics, populism, nationalism, as well as the general uncertainties in the global economy—demand that investors, policymakers, and analysts be on the lookout for a forthcoming recession, market correction, or worse.\u003c\/p\u003e \u003cp\u003eAn essential resource for anyone interested in financial markets, the second edition of \u003ci\u003eBoombustology:\u003c\/i\u003e\u003c\/p\u003e \u003cul\u003e \u003cli\u003eAdopts multiple lenses to understand the dynamics of booms, busts, bubbles, manias, crashes\u003c\/li\u003e \u003cli\u003eUtilizes the common characteristics of past bubbles to assist in identifying future financial extremes\u003c\/li\u003e \u003cli\u003ePresents a set of practical indicators that point to a financial bubble, enabling readers to gauge the likelihood of an unsustainable boom\u003c\/li\u003e \u003cli\u003eOffers two new chapters that analyze the long-term prospects for Indian markets and the distortions being caused by the passive investing boom\u003c\/li\u003e \u003cli\u003eIncludes a new foreword by James Grant, legendary editor of \u003ci\u003eGrant's Interest Rate Observer\u003c\/i\u003e\n\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eA comprehensive exploration of how bubbles form and why they burst, \u003ci\u003eBoombustology, 2\u003csup\u003end\u003c\/sup\u003e Edition\u003c\/i\u003e is packed with a wealth of new and updated information for individual and institutional investors, academics, students, policymakers, risk-managers, and corporate managers alike.\u003c\/p\u003e \u003cp\u003eForeword\u003c\/p\u003e \u003cp\u003eForeword to the First Edition\u003c\/p\u003e \u003cp\u003ePreface Is There a Bubble in Boom–Bust Books?\u003c\/p\u003e \u003cp\u003eAcknowledgments\u003c\/p\u003e \u003cp\u003eIntroduction The Study of Financial Extremes: One-Armed Analysts, Secrets, and Mysteries\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Five Lenses\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Microeconomic Perspectives: To Equilibrium or Not?\u003c\/p\u003e \u003cp\u003eChapter 2 Macroeconomic Perspectives: The Impact of Debt, Deflation, and Mispriced Money on Asset Markets\u003c\/p\u003e \u003cp\u003eChapter 3 The Psychology Lens: Homo Economicus Meets Homo Sapiens\u003c\/p\u003e \u003cp\u003eChapter 4 Political Foundations: Evaluating Property Rights, Price Mechanisms, and Political Distortions\u003c\/p\u003e \u003cp\u003eChapter 5 Biological Frameworks: Epidemiology and Emergence\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Historical Case Studies\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 6 Tulipomania: A Bubble in Seventeenth-Century Holland\u003c\/p\u003e \u003cp\u003eChapter 7 The Great Depression: From Roaring Twenties to Yawning Thirties\u003c\/p\u003e \u003cp\u003eChapter 8 The Japanese Boom and Bust: A Credit-Fueled Bubble Economy\u003c\/p\u003e \u003cp\u003eChapter 9 The Asian Financial Crisis: The Mirage of a Miracle\u003c\/p\u003e \u003cp\u003eChapter 10 The U.S. Housing Boom and Bust: The Homeowner’s Society Creates the People’s Panic\u003c\/p\u003e \u003cp\u003eChapter 11 China’s Credit-Fueled Investment Boom\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Looking Ahead\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 12 Spotting Bubbles Before They Burst: A Method for Identifying Unsustainable Booms\u003c\/p\u003e \u003cp\u003eChapter 13 Boombustology in Action: Is India Next?\u003c\/p\u003e \u003cp\u003eConclusion Hedgehogs, Foxes, and the Dangers of Making Predictions\u003c\/p\u003e \u003cp\u003eAddendum A Passive Investing Bubble?\u003c\/p\u003e \u003cp\u003eAbout the Author\u003c\/p\u003e \u003cp\u003eIndex\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eVIKRAM MANSHARAMANI\u003c\/b\u003e is an experienced global equity investor and a lecturer at Harvard University. Previously, he taught a seminar called \"Financial Booms and Busts\" to undergraduates at Yale University. Mansharamani has a PhD and MS from the MIT Sloan School of Management, an MS in political science from the MIT Security Studies Program, and a BA from Yale University. He lives in Lexington, Massachusetts.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eT\u003c\/b\u003ehe revised second edition of \u003ci\u003eBoombustology\u003c\/i\u003e is an important guide for understanding the history of various booms and busts and the cyclical nature of financial markets. In this updated edition of his popular book, noted academic Vikram Mansharamani outlines a multi-disciplinary framework for identifying financial bubbles before they burst. From the madness of the seventeenth century's tulip mania in Holland to the United States' crippling housing collapse in 2008, the book explores the elements that caused once soaring markets to come crashing down. \u003ci\u003eBoombustology\u003c\/i\u003e offers a robust framework that helps readers understand the dynamics that precede, fuel, and ultimately reverse financial market extremes. Perhaps most usefully, the book includes a set of indicators that readers can apply to identify future booms that may prove unsustainable. \u003c\/p\u003e\u003cp\u003eThe book is a comprehensive, information-packed exploration of how bubbles form as well as the causes and circumstances that lead to their demise. Mansharamani eschews the typical view of booms and busts as primarily economic phenomena and adopts a wide-ranging approach that embraces the lenses of microeconomics, macroeconomics, psychology, politics, and biology. The author summarizes his approach in a practical framework for identifying bubbles before they burst. He pinpoints the key indicators of a financial bubble so readers can themselves gauge the likelihood of being in the midst of an unsustainable boom. The author applies the framework to India's currently booming economy. He concludes that the Indian growth story may prove to be unsustainable and that starry-eyed investors should be wary. In addition, the book's addendum contains Mansharamani's thoughts on the highly distortive impact of passive investing. While not strictly an asset bubble, numerous factors indicate the global love affair with passive strategies may be creating highly unsustainable conditions that will prove challenging for investors to navigate when the mania dissipates. \u003c\/p\u003e\u003cp\u003eWritten in an engaging and accessible style, \u003ci\u003eBoombustology\u003c\/i\u003e can help investors, policymakers, and analysts better navigate today's turbulent economic environment.\t   \u003c\/p\u003e\u003cp\u003ePRAISE FOR \u003cb\u003eBOOMBUSTOLOGY\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"Today's markets are increasingly driven by geopolitics; trade, demographics, and natural resources. Context is everything. \u003ci\u003eBoombustology\u003c\/i\u003e provides an excellent framework for understanding the bigger picture.\" \u003cb\u003e —PAUL SMITH,\u003c\/b\u003e President and Chief Executive Officer, CFA Institute \t \u003c\/p\u003e\u003cp\u003e\"The financial meltdown that triggered the Great Recession has spawned dozens of books analyzing the violent mood swings of financial markets. What's different about Vikram Mansharamani's \u003ci\u003eBoombustology\u003c\/i\u003e is that it offers investors fresh insights and practical tools they can use to navigate through choppy markets. Readers will better understand the context of their decisions, and may even find they can harness the power of volatility itself to their advantage.\" \u003cb\u003e —ROBERT L. REYNOLDS,\u003c\/b\u003e President and Chief Executive Officer, Putnam Investments \t \u003c\/p\u003e\u003cp\u003e\"For decades, the world has oscillated between boom and bust as the siren songs of successive bubbles have grown louder, enticing more investors towards the rocks. By drawing on a series of lessons learned from several great manias, Vikram Mansharamani does a masterful job of giving us a framework to identify these bubbles and, importantly, steer a safe passage through increasingly dangerous waters.\" \u003cb\u003e—GRANT WILLIAMS,\u003c\/b\u003e Co-Founder, Real Vision Group  \u003c\/p\u003e\u003cp\u003e\"The \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eBoombustology\u003c\/i\u003e is that timeless and discerning primer on assets in all their forms from Bitcoin to gold to real estate and paper currency and how they converge on the economic bubbles of our time.'' \u003cb\u003e —MATTHEW WINKLER,\u003c\/b\u003e Co-Founder and Editor-in-Chief Emeritus, Bloomberg News  \u003c\/p\u003e\u003cp\u003e\"As we move further from the last crisis, a whole generation of new investors has very little perspective on market cycles. \u003ci\u003eBoombustology\u003c\/i\u003e uses economics, market structure, and unique cultural behaviors to provide vivid explanations of classic bubbles that have occurred around the world and through the ages. The historical context Mansharamani provides is extremely valuable, particularly for investors struggling through this QE-infused, low interest rate environment. I hope the brilliant young people I meet in the investment business take the time to read this book. It has the potential to save them much pain (and money).\" \u003cb\u003e —RICK SLOCUM,\u003c\/b\u003e Chief Investment Officer, Harvard Management Company\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988851507429,"sku":"NP9781119575603","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119575603.jpg?v=1761781775","url":"https:\/\/k12savings.com\/products\/boombustology-isbn-9781119575603","provider":"K12savings","version":"1.0","type":"link"}