A-share bubble theory: Difference between revisions
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\rightarrow | \rightarrow | ||
\text{Forced Selling} | \text{Forced Selling} | ||
</math> | |||
The precise sequence and intensity of these stages can vary between market episodes. | The precise sequence and intensity of these stages can vary between market episodes. | ||
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No single indicator establishes the existence of a bubble. | No single indicator establishes the existence of a bubble. | ||
A simplified | A simplified conceptual framework is: | ||
<math> | <math> | ||
\text{Bubble Risk} | \text{Bubble Risk} | ||
\propto | |||
f( | f\left( | ||
\text{Valuation}, | \text{Valuation}, | ||
\text{Leverage}, | \text{Leverage}, | ||
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\text{Sentiment}, | \text{Sentiment}, | ||
\text{Price Momentum} | \text{Price Momentum} | ||
) | \right) | ||
</math> | </math> | ||