STREET DOGS: Stock market investors suffer from delusions of crowds
In studies of herd mentality, Sigmund Freud identified features that are common in bull market attitudes
25 November 2020 - 17:52
From Devil Take the Hindmost by Edward Chancellor
In his introduction to the 1932 edition of Mackay’s Extraordinary Popular Delusions and the Madness of Crowds, Bernard Baruch suggests that US speculators in 1929 displayed the attributes of a crowd psychology. He cites the German playwright Schiller’s dictum that “anyone taken as an individual is tolerably sensible and reasonable — as a member of a crowd, he at once becomes a blockhead”...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.