GameStop and Other Madness

Scottish journalist, author, and poet, Charles Mackay (1814-1889), is best known for his study of crowd psychology and his tome, Extraordinary Popular Delusions and the Madness of Crowds, first published in 1841. His descriptions of “delusions, follies, and bubbles” illustrate once again French writer Jean-Baptiste Alphonse Carr’s 1849 observation, “The more things change, the more they stay the same.” Take the recent fleeting bubbles in various stocks like GameStop, AMC Entertainment Holdings, and silver related equities.

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