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May 8: Long View Part 9 - Why the bubble burst
Why did the bubble burst last year? Was it due to overconfidence, too much reliance on the efficient markets model, or an explosive mixture of human nature and the free market? Or all of the above? John Authers, FT investment editor, summarises the views of leading market experts he spoke to at a conference in Orlando, Florida, including Michael Mauboussin of Legg Mason, Richard Thaler of Chicago University and Russell Napier, author of Anatomy of the Bear. Produced by Josh Noble. Camera by Gregory Bobillot.