The Bubble Index: DJIA (20160 days)

The Bubble Index: DJIA (20160 days) suggests that there are characteristics of the market which occur over very long time intervals. The importance of long memory processes in financial markets should not be underestimated, as suggested by Mandelbrot via Hurst’s studies of the Nile. The massive window, approximately 80 business years, indicates the fundamental importance of LPPL oscillations in economic and social history.

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