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Guiding Assets


Formerly Take 15, Guiding Assets is the flagship podcast of CFA Institute and the definitive program for the investment management industry. As stewards of the investment industry, Guiding Assets will feature intimate conversations with some of the most influential people from the world of finance about the topics that matter most to investment professionals. The show will also share crucial insights and best practices to help guide investors to make smart, ethical decisions. Guiding Assets will continue to help build a better world for investors.

Host: Mike Wallberg, CFA

Producer: Mitchell Forst 

May 19, 2021

David DeRosa, author of “Bursting the Bubble: Rationality in a Seemingly Irrational Market,” a new monograph from the CFA Institute Research Foundation, discusses his conclusions on whether speculative bubbles exist in the stock market.
 
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📃Transcript: https://cfainst.​is/3bGIAUP
 
📧 Email us for comments, questions, or appearance requests:Take15podcast@cfainstitute.org
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 Episode Breakdown:
1:35 David talks about the journey of writing his book
3:55 Are there no bubbles?
7:31 If they’re not bubbles, what do you call them?
8:48 Why David believe the Dutch Tulipmania was not a bubble
11:32 John Law 
14:17 David taking issue with some of the most famous people in the field, specifically Robert J. Shiller
21:40 David talks about bitcoin
24:35 Is there a bubble brewing in NFTs?
26:25 Explaining the .com and housing “bubble”
30:35 Wrap-up questions
- Ray of sunshine question: one positive long-lasting change David hopes to see as a result of the pandemic 
- One item David would take with him on a NASA flight 
- Flight v. Invisibility? 
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Related articles and links:
Monograph: https://www.cfainstitute.org/en/research/foundation/2021/bursting-the-bubble 
The book "Extraordinary Popular Delusions and the Madness of Crowds" by Charles Mackay: https://www.simonandschuster.com/books/Extraordinary-Popular-Delusions-and-the-Madness-of-Crowds/Charles-MacKay/9781625585011 
Book of photographs from Ancient Egypt:  https://www.amazon.com/Images-Ancient-Egypt-David-DeRosa/dp/1364927071 
 
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LinkedIn: https://www.linkedin.com/in/lauren- foster/ 
Twitter: https://twitter.com/laurenfosternyc