US stock market bulls will crush the bears – again

SourceThe National
SectorFinancial Markets
CountryMiddle east

Almost 200 years ago, a study of economic bubbles by a Scottish writer called Charles Mackay colourfully described the manias around land, shares and tulips. Since 1841, Extraordinary Popular Delusions and the Madness of Crowds has arguably lost some of its relevance as a historical document but none of its significance as one of the earliest attempts to work out why investors fail to remember history. Time after time, all the way up to the recent decade, we have experienced the swings of asset prices from peak to crash, yet each time we have convinced ourselves that this time it will be different. To more...