Quotessence
Home / Books / A Short History of Financial Euphoria

A Short History of Financial Euphoria

Book by John Kenneth Galbraith · 8 quotes · Investing, Euphoria, Finance

Filter quotes by topic

AllInvestingEuphoriaFinanceFinancial BubbleWorldAlliterationAppreciateBangsBusinessCenturyCrisisDebtDestroyedEndeavorEndsEpisodesError ProneExuberanceFashionFields

A Short History of Financial Euphoria Quotes

“Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.”

TryingEndsRealityWould BeForeverCenturyIllusionIncreaseSellsInvestingWaveSellingDestroyedRidingEpisodesBangs
Book:A Short History of Financial Euphoria
Create image

“There can be few fields of human endeavor in which history counts for so little as in the world of finance.Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of the those who do not have insight to appreciate the incredible wonders of the present.”

WorldHumansLittlesPastMemoriesWonderFieldsAppreciateIncrediblesInvestingInsightFinanceEndeavorPrimitiveRefugePast Experiences
Book:A Short History of Financial Euphoria
Create image

“Let it be emphasized once more, and especially to anyone inclined to a personally rewarding skepticism in these matters: for practical purposes, the financial memory should be assumed to last, at a maximum, no more than 20 years. This is normally the time it takes for the recollection of one disaster to be erased and for some variant on previous dementia to come forward to capture the financial mind. It is also the time generally required for a new generation to enter the scene, impressed, as had been its predecessors, with its own innovative genius.”

MemoryPolitical Memory
Book:A Short History of Financial Euphoria
Create image