43 books
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11 voters
Bubbles
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The combination of our natural desire to be better than our peers, our faulty assumption of dodging risk, and our flawed belief of having better chances than others, pushes us into excessive greed territory. We take more significant and sometimes fatal risks.
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In a bubble, people are ready to pay any price without any regard to intrinsic value or any value whatsoever because they believe they can always sell it for a profit.
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