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Article: Stock Market Crashes Are Predictable; Major Decline Coming in 2003, 2004, Says UCLA Physicist.
- Article from:
- Ascribe Higher Education News Service
- Article date:
- December 16, 2002
CopyrightCOPYRIGHT 2002 AScribe. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: UCLA
LOS ANGELES, Dec. 16 (AScribe Newswire) -- Successfully predicting stock market swings is as futile as searching for the fountain of youth, some people believe. UCLA physicist and complex-systems theorist Didier Sornette is not among them. Sornette, author of a new book, "Why Stock Markets Crash: Critical Events in Complex Financial Systems" (Princeton University Press), has found patterns that occur in market crashes dating back for centuries. Their statistical signatures are evident long in advance, he concludes.
Sornette has developed algorithms - based on sophisticated mathematics, statistical modeling techniques and collective behavior ...