Famous bubbles

Read for examples of bubbles/manias
http://www.theequitydesk.com/manias.asp

Another form of bubble which I see daily around me is forward earnings multiples.
People sometimes start talking forward earnings/valuations as if they are guaranteed.
You have to price in risk of forward earnings not being hit???
What about that?
No risk?
Riskless investments?
Very rare.
fmcg/pharma are generally considered the low risk sectors and look at the crashes in reddy/cipla lately.
Hll was a gr8 investment at 250, then 230, then 200 now 190 p.e of 25 ish and no one talks about investing in hll on yahoo any longer.
This is where long term bottoms are formed.
Hll is now near lower end of historic p.e band even as its earnings are starting to get back on track.
dabur is trading at 30x earnings....... when dabur entered futures it traded at barely 10-12 x earnings. the futures were discounted by 2-3 rs for no good reason etc. That is called insanity.
Right now people will tell you dabur buy @ 30x forward earnings. Thats rubbish. if cagr is 30% buy at 30x trailing. next year's target is 30x next year's earnings. end of story. IF anyone can prove otherwise i am all ears.

litl
fy09e = 21..
fy10e=3x..
fy11e=5x..
target 210 in 2 years...
issue price 200-240, listing 280. If it was worth 280 @ listing why is it not worth that much now?? Has the growth potential of the power/infra sector gone down??

breakout level 175-176
u do the math.
risk? 144 old low?
trailing eps 12-13?
rock bottom 120-130 in a recovery after a market crash? (note in an actual crash u could go to 80-90 who knows?
"The only truth of the markets: no risk, no reward."
can i copyright this phrase? :)