In fact, cases such as Tulipomania in 1624--when tulip bulbs traded at a higher price than gold--suggest the existence of what I would dub "Mackay's Law of Mass Action": when it comes to the effect of social behavior on the intelligence of individuals, 1+1 is often considerably less than 1, and sometimes less than 0.
Perhaps a bit long, it is well written and worth the space on your nightstand.
One of the few classic books that has been printed for decades about the manias, panics, booms, and busts of financial history.
More to the point, people will do very risky things with their money, if everyone else is doing so.
You can judge this book by its title. It is a classic effort detailing the follies of mass psychology. Read morePublished 4 months ago by Fyers Securities
Bought and read the book several years ago.
One of the few classic books that has been printed for decades about the manias, panics, booms, and busts of financial... Read more
This is not the complete "Extraordinary Popular Delusions and the Madness of Crowds". This book contains only the first three chapters of the book. Read morePublished 7 months ago by Sean P Jordan
"This is the most important book ever written about crowd psychology and, by extension, about financial markets. Read morePublished 20 months ago by R. Russell Bittner
In this time the financial delusions are very uo to date! This is one of the best classic historian since 17th centuryPublished on January 3, 2013 by Mario Pines
This book (actually 2 books in one) is really interesting for a couple of reasons:
1. It's a good guide to basic investing.
2. Read more
Fascinating-- happening all over again, only 400 years later. Some things never change. Good price, quick, efficient, packed well.Published on August 31, 2009 by Harry W. Pope
I wanted to read this book to learn more about our current financial crisis. And I learned that if you think that the current financial crisis is an extraordinary event and our... Read morePublished on August 14, 2009 by Mariusz Skonieczny