>I posted the ZAP story as an example of internet stock mania.
Gottfried,
"Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
Reference:
Preface to the 1852 edition of "Extraordinary Popular Delusions and the Madness of Crowds", by Charles Mackay, LL.D. 1932. Farrar, Straus and Giroux: New York.
Also, "Anyone taken as an individual, is tolerably sensible and reasonable - - as a member of a crowd, he at once becomes a blockhead."
And, "I have always thought that if, in the lamentable era of the 'New Economics,' culminating in 1929, even in the very presence of dizzily spiralling prices, we had all continuously repeated, 'two and two still make four,' much of the evil might have been averted. Similarly, even in the general moment of gloom in which this foreword is written, when many begin to wonder if declines will never halt, the appropriate abracadabra may be: 'They always did.'"
Reference: Forward to the 1932 edition of "Extraordinary Popular Delusions and the Madness of Crowds", by Charles Mackay, LL.D. 1932. Farrar, Straus and Giroux: New York.
Also, "Visions of ingots danced before their eyes"
Reference: page 53, same book.
Ice
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