The Madness of Crowds, Past and Present

Charles Mackay's classic volume on speculative bubbles, published 167 years ago, sheds much light on the delusions of mass greed

A few weeks ago I was interviewing a very successful CEO. Despite dismal economic news around the world, his business was experiencing record profits. I thought, "It will be nice for me to talk to one executive this week who is in a great mood."

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