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and those people got tulips, at normal low prices. futures traders didn't want a tulip, nobody accepted delivery of a tulip. no tulips in the spot market were
by ringaroundthetx 9y ago
and those people got tulips, at normal low prices.
futures traders didn't want a tulip, nobody accepted delivery of a tulip.
no tulips in the spot market were being traded anywhere near the futures month prices.
with that in mind, doesn't this make it one of the worst poster childs of irrational exuberance to cite?
- joosters 9y agoYou're relying on one person's summary of the tulip bubble 'facts'. Other sources give great detail of the tulip purchasing craze. For example, read the tulip chapter in 'Extraordinary Popular Delusions and The Madness of Crowds', by Charles Mackay. It cites many sources that detail the crazy high prices people did actually pay for tulips.
- ringaroundthetx 9y agoThanks, I've looked into it over the years but I'm always interested in different perspectives. Between the contract categorization changes, actual shortages, and the bubonic plague, I think there are a lot of things that are unclear. Without the plague abruptly killing all the speculators would we have called it a bubble, or just an uptrend?