Everyone talks about Tulip-mani, but here are some other “extraordinary popular delusions” that don’t get as much press but which are very similar: - Mississip

Everyone talks about Tulip-mani, but here are some other “extraordinary popular delusions” that don’t get as much press but which are very similar: - Mississippi Land Scheme, France, late 17th Century - South Sea Bubble, England, early 18th century - Florida Land Scheme, America, early 1920’s - Radio stocks, America, late 1920’s In particular I’d like to point out Airline stocks from the 30’s. Airplanes were, and still are, an incredibly amazing technology. They were absolutely going to revolutionize the world. However, if you, basically at any point from their invention onwards, invested in airline stocks YOU WOULD HAVE LOST MONEY. I think this is really incredible and should be a reminder to remember to discern between the general field and the specific company. Revolutionary fields do not lead to revolutionary stock market gains necessarily. Well managed companies do, which can exist inside groundbreaking areas or older, more prosaic fields.