6/25/2023 0 Comments Memoirs of Extraordinary Popular Delusions and the Madness of... by Charles Mackay![]() All three events are covered not only adequately and sufficiently, but amusingly, in Charles Mackay’s treatise. And let’s not omit the Dutch and their “Tulipomania” of 1635-1636. Ditto for the Brits and the “South-Sea Bubble,” which followed almost immediately thereafter. Perhaps the French are just a tad embarrassed by this bit of their history. Well, maybe in the Business Schools of Harvard, Wharton or Columbia.Ī shame that no one’s ever made a movie on the subject of John Law and the “Mississippi Madness” of 1719-1720. The fact is, it’s a damned good book, an easy read of 4-5 hours, and a bit of history one never gets in school. I haven’t read enough primary literature on crowd psychology to know whether “(t)his is the most important book ever written” on that subject. Insana’s observation on the rear cover of this compendium of Charles Mackay’s and Joseph de la Vega’s treatises sounds like a bit of hyperbole, let's just remember that Mr. A serious student of the markets and even anyone interested in the extremes of human behavior should read this book (Ron Insana, writing for CNBC).” “This is the most important book ever written about crowd psychology and, by extension, about financial markets. ![]()
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