Extraordinary Popular Delusions and The Madness of Crowdsby Charles MacKay
Extraordinary Popular Delusions and the Madness of Crowds is a singular casebook of human folly throughout the ages. This nineteenth-century landmark study of crowd psychology and mass mania includes accounts of classic swindles, schemes, and scams on a grand scale. The Mississippi Scheme that swept France in 1720, the South Sea Bubble that ruined thousands in England
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Extraordinary Popular Delusions And The Madness Of Crowds based on 0 ratings. 2 reviews.
This short version of Charles MacKay's book, Estraordinary Popular Delusions and the Madness of Crowds, which was first publilshed in 1841, should be on the reading list for anyone looking to make a fast buck, in the stock market or elsewhere. Change the names, places and time frame, and you would swear that it was just written. Amazing!! Popular delusions affect many investors - just ask Madoff, and other swindlers. The urge to "get rich quick" is mostly delussional. Once in ten thousand investments does one "hit the jackpot". The "Hula-hoop" back in the 50's is a classical example of hitting it big. President Obama should take the time to read this, but then again, he may not be invested in the market, or anywhere else. Americans are easily swayed by the "Rainmaker". This book, if read and compared to today's current affairs in the United States, and around the world, will reveal that human beings are gullable, as well as greedy, otherwise, they would be more cautious with whom they place their trust with their hard earned funds.