{"id":30522,"date":"2023-12-07T09:21:55","date_gmt":"2023-12-07T09:21:55","guid":{"rendered":"https:\/\/masterskills.org\/blog\/lac-quan-teu-irrational-exuberance-la-gi-vi-du-ve-lac-quan-teu.html"},"modified":"2023-12-23T06:13:22","modified_gmt":"2023-12-22T23:13:22","slug":"lac-quan-teu-irrational-exuberance-la-gi-vi-du-ve-lac-quan-teu","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/lac-quan-teu-irrational-exuberance-la-gi-vi-du-ve-lac-quan-teu.html","title":{"rendered":"L\u1ea1c quan t\u1ebfu (Irrational Exuberance) l\u00e0 g\u00ec? V\u00ed d\u1ee5 v\u1ec1 l\u1ea1c quan t\u1ebfu"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda<\/i><\/p>\n<\/figcaption><\/figure>\n

L\u1ea1c quan t\u1ebfu<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

L\u1ea1c quan t\u1ebfu <\/b>trong ti\u1ebfng Anh l\u00e0 Irrational Exuberance.\u00a0<\/b><\/p>\n

Trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, l\u1ea1c quan t\u1ebfu <\/i>l\u00e0 khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ef1 tin r\u1eb1ng gi\u00e1 c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n s\u1ebd ti\u1ebfp t\u1ee5c t\u0103ng, m\u00e0 kh\u00f4ng \u0111\u1ec3 \u00fd \u0111\u1ebfn gi\u00e1 tr\u1ecb c\u01a1 b\u1ea3n c\u1ee7a n\u00f3.\u00a0<\/p>\n

Thu\u1eadt ng\u1eef n\u00e0y \u0111\u01b0\u1ee3c \u0111\u1eb7t ra b\u1edfi c\u1ef1u Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang Alan Greenspan v\u00e0o n\u0103m 1996.\u00a0<\/p>\n

L\u1ea1c quan t\u1ebfu<\/i> c\u0169ng t\u00ean cu\u1ed1n s\u00e1ch n\u1ed5i ti\u1ebfng c\u1ee7a m\u00f4 t\u1ea3 bong b\u00f3ng th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n n\u0103m 2000 Robert Shiller.<\/p>\n

S\u1ef1 nguy hi\u1ec3m c\u1ee7a l\u1ea1c quan t\u1ebfu<\/font><\/h3>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea1nh tranh v\u00e0 \u0111\u1ea9y nhau v\u00e0o tr\u1ea1ng th\u00e1i l\u1ea1c quan t\u1ebfu.<\/i> H\u1ecd tr\u1edf n\u00ean tham lam v\u00ec l\u1ee3i nhu\u1eadn \u0111\u1ebfn m\u1ee9c b\u1ecf qua vi\u1ec7c c\u00e1c ch\u1ec9 s\u1ed1 kinh t\u1ebf c\u01a1 b\u1ea3n \u0111ang x\u1ea5u \u0111i. H\u1ecd tham gia v\u00e0o cu\u1ed9c chi\u1ebfn tranh gi\u00e0nh t\u00e0i s\u1ea3n v\u00e0 \u0111\u1ea9y gi\u00e1 l\u00ean cao h\u01a1n n\u1eefa.<\/p>\n

L\u1ea1c quan t\u1ebfu<\/i> ch\u1ec9 c\u00f3 th\u1ec3 x\u1ea3y ra khi giai \u0111o\u1ea1n m\u1edf r\u1ed9ng c\u1ee7a chu k\u00ec kinh doanh \u0111\u00e3 di\u1ec5n ra m\u1ed9t th\u1eddi gian. L\u00fac n\u00e0y n\u1ec1n kinh t\u00ea kh\u00f4ng c\u00f2n nhi\u1ec1u c\u01a1 h\u1ed9i m\u1edbi. N\u1ebfu c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tu\u00e2n th\u1ee7 nghi\u00eam ng\u1eb7t c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n, h\u1ecd s\u1ebd t\u1eeb ch\u1ed1i c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 k\u00e9m n\u00e0y v\u00e0 gi\u1eef ti\u1ec1n m\u1eb7t.<\/p>\n

Nh\u01b0ng c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1eabn c\u1ed1 g\u1eafng \u0111\u00e1nh b\u1ea1i th\u1ecb tr\u01b0\u1eddng. H\u1ecd tuy\u1ec7t v\u1ecdng t\u00ecm ki\u1ebfm b\u1ea5t k\u1ef3 c\u01a1 h\u1ed9i thu l\u1ee3i nhu\u1eadn n\u00e0o c\u00f3 th\u1ec3 \u0111\u00e3 b\u1ecb b\u1ecf qua. K\u1ebft qu\u1ea3 l\u00e0, h\u1ecd l\u00e3ng ph\u00ed nhi\u1ec1u ti\u1ec1n h\u01a1n v\u00e0o c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u00f3 l\u1ee3i nhu\u1eadn ng\u00e0y c\u00e0ng k\u00e9m h\u01a1n.<\/p>\n

K\u1ebft qu\u1ea3 l\u00e0 h\u1ecd h\u00ecnh th\u00e0nh t\u00e2m l\u00ed b\u1ea7y \u0111\u00e0n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1eaft ch\u01b0\u1edbc nhau v\u00e0o mua v\u00e0o b\u1ea5t c\u1ee9 t\u00e0i s\u1ea3n n\u00e0o \u0111ang t\u0103ng gi\u00e1. H\u1ecd t\u1ea1o ra m\u1ed9t bong b\u00f3ng t\u00e0i s\u1ea3n. Hi\u1ec7n t\u01b0\u1ee3ng n\u00e0y th\u01b0\u1eddng x\u1ea3y ra trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, nh\u01b0ng c\u0169ng xu\u1ea5t hi\u1ec7n trong th\u1ecb tr\u01b0\u1eddng nh\u00e0 \u0111\u1ea5t, v\u00e0ng ho\u1eb7c th\u1eadm ch\u00ed l\u00e0 Bitcoin.<\/p>\n

Th\u1eadm ch\u00ed, gi\u00e1 t\u00e0i s\u1ea3n c\u00f3 th\u1ec3 c\u00f3 v\u1ebb \u0111ang t\u0103ng v\u00ec nh\u1eefng l\u00ed do h\u1ee3p l\u00ed. Nh\u01b0ng b\u1ea5t c\u1ee9 \u0111i\u1ec1u g\u00ec c\u0169ng c\u00f3 th\u1ec3 l\u00e0m v\u1ee1 bong b\u00f3ng. K\u1ebft qu\u1ea3 l\u00e0 s\u1ef1 \u0111i\u00ean cu\u1ed3ng c\u1ee7a l\u00f2ng tham chuy\u1ec3n sang ho\u1ea3ng lo\u1ea1n khi gi\u00e1 t\u00e0i s\u1ea3n tr\u1edf v\u1ec1 gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a ch\u00fang.<\/p>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n t\u00e0i s\u1ea3n v\u1edbi b\u1ea5t c\u1ee9 gi\u00e1 n\u00e0o, th\u1ea5p h\u01a1n c\u1ea3 gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a ch\u00fang. S\u1ef1 s\u1ee5p \u0111\u1ed5 gi\u00e1 ti\u1ebfp t\u1ee5c lan sang c\u00e1c lo\u1ea1i t\u00e0i s\u1ea3n kh\u00e1c. Theo sau \u0111\u00f3 l\u00e0 giai \u0111o\u1ea1n thu h\u1eb9p c\u1ee7a chu k\u00ec kinh t\u1ebf, v\u00e0 th\u01b0\u1eddng d\u1eabn \u0111\u1ebfn suy tho\u00e1i<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 l\u1ea1c quan t\u1ebfu<\/font><\/h3>\n

Chu k\u00ec b\u00f9ng n\u1ed5 v\u00e0 suy tho\u00e1i g\u1ea7n nh\u1ea5t x\u1ea3y ra v\u1edbi gi\u00e1 d\u1ea7u n\u0103m 2014. Sau khi \u0111\u1ea1t 100,14 USD v\u00e0o th\u00e1ng 6, gi\u00e1 d\u1ea7u th\u00f4 West Texas Intermediate \u0111\u00e3 gi\u1ea3m xu\u1ed1ng c\u00f2n 53,45 USD v\u00e0o ng\u00e0y 26 th\u00e1ng 12 n\u0103m 2014.\u00a0<\/p>\n

Sau \u0111\u00f3, gi\u00e1 d\u1ea7u gi\u1ea3m xu\u1ed1ng c\u00f2n 38,22 USD v\u00e0o ng\u00e0y 28 th\u00e1ng 8 n\u0103m 2015, m\u1ee9c th\u1ea5p nh\u1ea5t trong n\u0103m. Nh\u1eefng m\u1ee9c gi\u00e1 th\u1ea5p n\u00e0y b\u1eaft \u0111\u1ea7u \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn n\u1ec1n kinh t\u1ebf trong n\u0103m 2015. \u0110\u1eb7c bi\u1ec7t, c\u00e1c c\u00f4ng ty d\u1ea7u kh\u00ed M\u1ef9 trong ng\u00e0nh d\u1ea7u kh\u00ed \u0111\u00e1 phi\u1ebfn \u0111\u00e3 ph\u1ea3i sa th\u1ea3i c\u00f4ng nh\u00e2n. Cu\u1ed1i n\u0103m 2015, nhi\u1ec1u c\u00f4ng ty b\u1eaft \u0111\u1ea7u m\u1ea5t kh\u1ea3 n\u0103ng thanh to\u00e1n c\u00e1c tr\u00e1i phi\u1ebfu r\u1ee7i ro cao m\u00e0 h\u1ecd \u0111\u00e3 ph\u00e1t h\u00e0nh.<\/p>\n

S\u1ef1 b\u00f9ng n\u1ed5 c\u1ee7a bong b\u00f3ng gi\u00e1 d\u1ea7u m\u1ed9t ph\u1ea7n l\u00e0 l\u1eddi \u0111\u00e1p l\u1ea1i s\u1ef1\u00a0l\u1ea1c quan t\u1ebfu <\/i>\u0111\u1ed1i v\u1edbi \u0111\u1ed3ng USD.\u00a0 Trong n\u0103m 2014 v\u00e0 2015, s\u1ee9c mua c\u1ee7a \u0111\u1ed3ng USD \u0111\u00e3 t\u0103ng 25%, \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn vi\u1ec7c xu\u1ea5t kh\u1ea9u c\u1ee7a c\u00e1c c\u00f4ng ty s\u1ea3n xu\u1ea5t d\u1ea7u.<\/p>\n

L\u1ea1c quan t\u1ebfu<\/b> c\u0169ng x\u1ea3y ra v\u1edbi gi\u00e1 v\u00e0ng trong n\u0103m 2011. Nh\u01b0ng may m\u1eafn l\u00e0 n\u00f3 \u0111\u00e3 kh\u00f4ng lan sang ph\u1ea7n c\u00f2n l\u1ea1i c\u1ee7a n\u1ec1n kinh t\u1ebf.<\/p>\n

Bong b\u00f3ng t\u00e0i s\u1ea3n x\u1ea3y ra v\u1edbi c\u1ed5 phi\u1ebfu trong n\u0103m 2013. Gi\u00e1 c\u1ed5 phi\u1ebfu t\u0103ng 30%, v\u01b0\u1ee3t xa c\u00e1c gi\u00e1 tr\u1ecb c\u01a1 b\u1ea3n c\u1ee7a ch\u00fang.<\/p>\n

(Tham kh\u1ea3o: Irrational Exuberance, Its Quotes, Dangers, and Examples; the balance.com)\u00a0<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n L\u1ea1c quan t\u1ebfu (ti\u1ebfng Anh: Irrational Exuberance) trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n l\u00e0 khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ef1 tin r\u1eb1ng gi\u00e1 c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n s\u1ebd ti\u1ebfp t\u1ee5c t\u0103ng, m\u00e0 kh\u00f4ng \u0111\u1ec3 \u00fd \u0111\u1ebfn gi\u00e1 tr\u1ecb c\u01a1 b\u1ea3n c\u1ee7a n\u00f3.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30522"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30522"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30522\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}