The Eight Characteristics Of Stock Market Manias | Zero Hedge

From GMO’s Edward ChancellorThe Typical Characteristics of a Stock Market Mania1. This-time-is-different mentality. Throughout history, successive market manias have been rationalized with the argument that history is no longer a reliable guide to the future. Both the “new era” of the 1920s and “new paradigm” of the 1990s were marked by a “this-time-is-different” mentality. The same mode of thinking is […]