Spekulativní bubliny na finančním trhu

Abstract

The bachelor thesis focuses on speculative bubbles on the financial market and their detection based on chosen indicators. The goal of the thesis is to describe the issue and determine if CAPE, BI and VCI indicators can signal a speculative bubble. The problem is processed both theoretically and practically and the thesis is divided into 3 parts. The first part deals with the financial market and ideas of efficient market theory and behavioral finance. The second chapter focuses on speculative bubbles, their definition, types, causes, consequences and methods of identification. The main contribution of the thesis is application of selected indicators to historical events, specifically the internet bubble, the housing bubble and the financial crisis in 2008. The conclusion is dedicated to evaluation of the financial market situation in the USA, based on the results of indicator ability to signal speculative bubbles in history.