price growth qualified by LPPLS: (i) bubbles followed by a large drawdown or crash, and (ii) price catch-up followed by a …Galvanized by the claims of Greenwood et al. in Bubbles for Fama that “a sharp price increase of an industry portfolio …, people have not come up with ways of identifying bubbles”, we present significant evidence to the contrary of both statements …

empirical financial time series exhibiting evident bubble behavior is presented. Estimating the critical crash-time works …