The term is considered in English to be a neologism of the British national economist John Maynard Keynes [1883-1946] from his book „The General Theory of Employment, Interest and Money“ published in 1936). With regard to the financial market, the observation that the actions of market participants cannot always or not exclusively be explained by the explanatory approaches of economic theory. Rather, behavioral patterns by instinct also play a role. Experience has shown that these patterns have a special characteristic of suddenly reversing from one direction (expectations of a bull market) to the other (expectations of a bear market). – See behavioral finance, euphoria phase, financial mathematics, financial psychology, Friday-13 anomaly, fear thesis, herd behavior, hindsight, information, asymmetric, myopia, calendar effect, Monday, black, Monday effect, megamania, feedback loop, Friday, black, sell-in-May effect, sine-curve fetishism, small-cap effect, sentiment reversal, theorist.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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