Books
Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay
"The market never ceases to befuddle and beguile. These two venerable works are fixtures on the short lists for most valuable books on the securities markets, and investors continue to cherish them." -From the Introduction by Martin S. Fridson ManagingDirector, Merrill Lynch & Co. Author of InvestmentIllusions
Exploring the sometimes hilarious, sometimes devastating impact of crowd behavior and trading trickery on the financial markets, thisbook brilliantly combines two all-time investment classics.Extraordinary Popular Delusions and Confusión de Confusiones Take us from Tulipmania in 1634-when tulips actually traded at a higher price than gold-to the South Sea "bubble" of 1720, andbeyond. Securities analyst and author Martin Fridson guides you on a quirky, entertaining, and intriguing journey back through time.
Chosen by the Financial Times as Two of the Ten Best Books EverWritten on Investment
"This is the most important book ever written about crowd psychology and, by extension, about financial markets. A serious student rof the markets and even anyone interested in the extremes of human behavior should read this book!" -Ron Insana, CNBC
"In combining 'Extraordinary' with 'Confusion,' the result is not extraordinary confusion. Instead, with clarity, the book sears into modern investor minds the dangers of following the crowd." -GregHeberlein, The Seattle Times
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Sing up / Sing in
1. It's a good guide to basic investing.
2. It's a good warning of the pitfalls that EVERYONE is likely to make investing, especially newbies or those who tend to follow the hype of the day.
3. It's an interesting perspective into how little has changed in 300 years - the schemes, the booms & busts, the irrationality that human beings STILL act on in the investment world are the replaying over and over of the same things described in these books.
If everyone had to read these in high school, we would not have the booms & busts that we do.