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1.Market Observations, 8.Was Sticky

8 Aug 2017 (AFR) – The warnings from history that Wall Street ignored

[COMMENT: Here is some good history, and some lessons, about (speculative) market bubbles, going back to 1636-1637 and the time of the infamous Tulip Bubble.]

(8 August 2017, AFR, p29, by John Authers)

Lessons from history: The great tulip bubble in the 17th century is still cited today.

Wall Street

‘After the credit crisis began to unfold in the summer of 2007, many on Wall Street and in the City of London complained it was unprecedented and had been impossible to see coming. They were wrong. Speculative bubbles are rooted deep in human nature, and have been widely studied. History’s most famous bubble took root in the Netherlands almost four centuries ago – for tulips. The common elements to speculative bubbles are:…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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