Tulip Bulbs, Bored Apes and Bubbles
Get 40% off Blinkist premium, only valid until the end February! Enjoy 2 memberships for the price of 1. Start your 7-day free trial by clicking here: https://www.blinkist.com/patrickboyle or scanning the QR code.
The Dutch tulip bulb market bubble, also known as tulipmania, was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s, when speculation is claimed to have driven the value of tulip bulbs to extreme levels. At the market’s peak, the rarest tulip bulbs traded for as much as six times the average person’s annual salary.
Today, the story of tulipmania serves as a parable for the pitfalls that excessive greed and speculation in investing can lead to.
The story of tulip-mania gained popular attention in 1841 with the publication of the book Extraordinary Popular Delusions and the Madness of Crowds, written by Scottish journalist Charles Mackay, who wrote that at one point 5 hectares (12 acres) of land were offered for a single tulip bulb. Mackay claimed that many investors were ruined by the fall in prices, and Dutch commerce suffered a severe shock. Although Mackay's book is a classic, many modern historians believe that the mania was not as extreme as he described.
More interestingly Mackay lived through three much bigger speculative bubbles in his lifetime in railway stocks, and not only did he not recognize them as bubbles, but he participated in them.
Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC
Patreon Page: / patrickboyleonfinance
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: / patrickeboyle
Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlD...
Apple: https://podcasts.apple.com/us/podcast...
Google Podcasts: https://tinyurl.com/62862nve
Join this channel to support making this content:
/ @pboyle
Смотрите видео Tulip Bulbs, Bored Apes and Bubbles онлайн без регистрации, длительностью часов минут секунд в хорошем качестве. Это видео добавил пользователь Patrick Boyle 14 Март 2023, не забудьте поделиться им ссылкой с друзьями и знакомыми, на нашем сайте его посмотрели 232,825 раз и оно понравилось 8.1 тысяч людям.