Detailed discussion devoted to financial bubbles. Both chronological (from 16th century to modern times) and geographical (from Japan to Kuweit and USA) vantage points are considered. Historical facts are also illustrated by their reflection in world literature. Psychological, sociological, economic and financial explanations of bubbles are covered. A theoretical concept of financial bubble is developed – conditions that drive the creation of a bubble are defined, signs that indicate the presence of a bubble, directly or indirectly, are established. The book reviews dangers associated with this phenomenon and its consequences. Ideas offered in the book may assists in reducing risks associated with investment into overvalued assets.