Abstract

http://ssrn.com/abstract=224145
 
 

References (27)



 
 

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The Nasdaq Crash of April 2000: Yet Another Example of Log-Periodicity in a Speculative Bubble Ending in a Crash


Anders Johansen


Riso National Laboratory - Wind Energy Department; University of Copenhagen, Niels Bohr. Inst.; University of California, Los Angeles (UCLA) - Institute of Geophysics and Planetary Physics

Didier Sornette


Swiss Finance Institute; ETH Zurich



Abstract:     
The Nasdaq fell another (approximately) 10% on Friday the 14th of April 2000 signaling the end of a remarkable speculative high-tech bubble starting in spring 1997. The closing of the Nasdaq at 3321 corresponds to a total loss of over 35% since its all-time high of 5133 on the 10th of March 2000. Similarities to the speculative bubble preceding the infamous crash of October 1929 are quite striking: The belief in what was coined a "New Economy" both in 1929 and presently made share-prices of companies with three digits price-earning ratios soar. Furthermore, these two speculative bubbles, as well as others, both nicely fit into the quantitative frame-work proposed by the authors in a series of recent papers.

Number of Pages in PDF File: 10

JEL Classification: C44

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Date posted: June 9, 2000  

Suggested Citation

Johansen, Anders and Sornette, Didier, The Nasdaq Crash of April 2000: Yet Another Example of Log-Periodicity in a Speculative Bubble Ending in a Crash. Available at SSRN: http://ssrn.com/abstract=224145 or http://dx.doi.org/10.2139/ssrn.224145

Contact Information

Anders Johansen
Riso National Laboratory - Wind Energy Department ( email )
Frederiksborgvej 399 Build. 118
P.O. 49
DK-4000 Roskilde
Denmark
+45 4677 5004 (Phone)
+45 4677 5083 (Fax)
HOME PAGE: http://www.risoe.dk/vea/staff/andj/
University of Copenhagen, Niels Bohr. Inst. ( email )
Blegdamsvej 17
DK-2100 Copenhagen
Denmark
University of California, Los Angeles (UCLA) - Institute of Geophysics and Planetary Physics ( email )
Box 951567
Los Angeles, CA 90095-1567
United States
(310) 825 0961 (Phone)
(310) 206 3051 (Fax)
Didier Sornette (Contact Author)
Swiss Finance Institute ( email )
c/o University of Geneve
40, Bd du Pont-d'Arve
1211 Geneva, CH-6900
Switzerland
ETH Zurich ( email )
Department of Management, Technology and Economics
Scheuchzerstrasse 7
8092 Zurich
Switzerland
41446328917 (Phone)
41446321914 (Fax)
HOME PAGE: http://www.er.ethz.ch/
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References:  27
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