“A modern-day interpretation of a finance classic” That was a long title for a short book. It’s not the actual Charles Mackay work, it’s a modernised version written by journalist Tim Phillips that basically summarises the important details and lessons that apply today, as much as (if not more than) they did back then. “Here’s the catch: we rarely spot bubbles as they occur. We can identify them with hindsight, but that’s not a lot of use if you’re investing. It takes a strong stomach, when a price keeps rising, to hold fast to your belief that it was fairly priced at half its current price.” Ch. 22 p. 45 Each chapter is broken down in to two concise pages and covers everything from the crusades to witchcraft and the dutch tulipomania to … Read entire article »