Market Panic: Wild Gyrations, Risk and Opportunity in Stock Markets

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Profile, 2003 - Business cycles - 266 pages
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Why are stock markets regularly gripped by panics? What gives rise to these panics? Are markets becoming more panic-prone? In this fascinating book Stephen Vines provides some unusual answers to these questions and shows why panics offer unique opportunities to stock market investors. He challenges some long held assumptions about the benefits of investment diversification, offers new ways of understanding the panic cycle and demonstrates how to predict the onset of panics. Interviews with market professionals directly involved in handling some major stock crises provide a compelling insider's account of what actually happens when panics break out. This book also looks at ways in which stock markets are becoming more detached from the companies and economies they are supposed to represent and shows how this is building a new and more dangerous form of instability into the market system. This is a truly comprehensive study examining all aspects of the stock market panic phenomenon. Presented in readable, jargon-free form this book will be of interest to anyone who invests in stock markets and is interested in preserving their wealth. Market professionals and those studying how they work will find a wealth of valuable insights here.

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About the author (2003)

Stephen Vines has been writing about markets and business for more than two decades. He was the Deputy Business Editor of The Observer and has worked for The Guardian, The Independent, The Daily Telegraph and the New York-based Daily Deal. More recently he has combined writing with founding and running a number of companies and learning a lot more about how business really works. He is also an active stock market investor and has provided consultancy services to a number of listed companies. Now based in Hong Kong, he is the author of a study of the Asian financial crisis called The Years of Living Dangerously. Stephen Vines was the founding Chief Editor of Eastern Express, a ground breaking daily newspaper published in Hong Kong.

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