“Extraordinary Popular Delusions and the Madness of Crowds” Joseph De La Vega

Wow, I mean wow if you have any questions about how/why/what may be the next panic/fad/compulsion then you must read this book. I read a lot of books and I have slowed down to read this one thoroughly. Be aware it is a tomb (400 pages for the complete edition) and you may only be interested in a few chapters.

http://www.amazon.com/Extraordinary-Pop ... =1-1-fkmr0

All the normal bubbles and busts are covered for those of us still crazy (like a fox???) who are still investing. Similarly the risk of mobs from witchcraft trials to the inquisition. More as I finish.

Thanks for the heads up on this one, i'll be checking it out.

Boosh.

I read a few chapters of that, excerpted into a magazine, many years ago. Quality stuff, and a reminder than while a person may be smart, people as a group are really stupid. And fearful. And prone to heard/flock behavior that can have them move like a cloud of starlings - full speed one direction and then a sudden imperceptible change happens, and it is full speed some other way.

Exactly, groups and group behavior are the entire point of the book. It focuses heavily on financial scenario's and I mainly reviewed it here because I consider this the prime reason for a 'panic' in the near future disaster threats.

The good news is that this 'group' affect works as a limiter as well in that if the sheeple believes the dollar is always secure and that the stock market has value then they will continue to invest and purchase. That practically guarantees that a self-fufilling prophecy protects the dollar and the stock market.

ZS is here to give every that critical 15-minutes of prior knowledge and I consider this book an excellent way to train to be one step ahead of the crowd.