¿Inversionistas o especuladores? evidencia de burbuja especulativa en el mercado accionario Colombia, 2004-2006

This study provides evidence that part of the spectacular price increase of the Colombian Stock Market in the last five years corresponds to a speculative bubble. Since early 2004, the estimated return for the Colombian stock index in the long term is just 0% to 2% annually over the return of the 10...