5. Market Behavior

Finance for beginners: terms from the NenVest AI-bubble report (Nov 2026). English + Ukrainian.

Bubble — Бульбашка

Prices go far above the real value because of excitement, and then they pop. Example: internet stocks in 2000, tulips in Holland in 1637.

Mania — Манія

Extreme crowd excitement: everyone wants in, nobody checks the price.

Speculation — Спекуляція

Buying mainly because you hope to sell higher soon, not because of the business value.

Dot-com bubble — Бульбашка доткомів

The internet stock bubble that popped in 2000–2002. Nasdaq fell about 78%. Amazon fell about 90% but survived and became a giant.

Sell-off — Розпродаж

Many investors sell at the same time, so prices drop fast. Example: on 5 Nov 2026 the Nasdaq fell 5.5% in one day.

Crash — Крах

A very sudden, very big fall in prices, for example −20% in a few days.

Correction — Корекція

A drop of 10% or more from the recent top. Normal, it happens often.

Drawdown — Просадка

How far something fell from its highest point. Example: the top was €100, now it is €70 = 30% drawdown.

Bear market — Ведмежий ринок

Prices fall 20% or more and stay down for a long time. A bear hits down with its paws. (Bull market = prices go up, a bull throws its horns up.)

Grind lower (slow slide) — Сповзання

Prices fall slowly and steadily, a little every week, not in one crash.

Reversal — Розворот

The trend changes direction: up becomes down, or down becomes up.

Peak / bottom — Пік / дно

The highest / lowest price point. Hard to see in real time, easy to see afterwards.

Selling into strength — Продаж на силі

Selling while prices are still high and buyers are happy, instead of waiting for the fall.

Thematic investing — Тематичне інвестування

Buying everything connected to one big story. Example: "AI!", so people buy every chip, cloud or AI-related stock.

Stock picking (selectivity) — Вибірковість

Carefully choosing only the real winners inside a theme, instead of buying everything.

Momentum — Моментум

Prices that are moving tend to keep moving the same way for a while, like a rolling ball.

Volatility — Волатильність

How much and how fast prices jump up and down. High volatility = a wild roller coaster.

Reflexivity — Рефлексивність

The fear of a fall itself causes the fall. Example: traders think a fund must sell, so they sell first, prices fall, and now the fund really must sell.

Consensus — Консенсус

What most investors believe. If everyone already believes it, it is usually already in the price.

Pricing / repricing — Ціноутворення / переоцінка

How the market decides what something is worth, and the moment it changes its mind.

Regime change — Зміна режиму

The market switches to a new phase with new rules. Example: from "AI stocks always go up" to "only real profits matter".

Base case — Базовий сценарій

The outcome you think is most likely.

Fat left tail — Жирний лівий хвіст

Rare big crashes happen more often than normal maths predicts. "Left" = the losses side.