Jean-Paul Rodrigue is a Canadian most noted (in 2008) for his "bubble model", charting four "phases of a bubble". According to the model, while the "smart money" has purchased during the earlier "stealth phase", institutional investors begin to buy during "take off". Following media coverage, the general public begins to invest leading to steep rise in prices as "enthusiasm" and then "greed" kick in. "Delusion" precedes the peak.
Printed copy · Anthology Volume 5, page 21Printed copy from The Tender For Law Anthology, Volume 5, page 21 (printed 13 June 2014). Added by this site; not part of the Facebook export.