Boom and Bust Quotes

“There are at least three ways in which bubbles can be useful. First, the bubble may facilitate innovation and encourage more people to become entrepreneurs, which ultimately feeds into future economic growth.9 Second, the new technology developed by bubble companies may help stimulate future innovations, and bubble companies may themselves use the technology developed during the bubble to move into a different industry. Third, bubbles may provide capital for technological projects that would not be financed to the same extent in a fully efficient financial market. Many historical bubbles have been associated with transformative technologies, such as railways, bicycles, automobiles, fibre optics and the Internet. William Janeway, who was a highly successful venture capitalist during the Dot-Com Bubble, argues that several economically beneficial technologies would not have been developed without the assistance of bubbles.10”
― William Quinn, Boom and Bust: A Global History of Financial Bubbles

“Han ne hachi gake ni wari biki (When the market has halved, take 80 per cent of that figure and add a 20 per cent discount; only then should you buy.) Japanese rice traders’ proverb1”
― William Quinn, Boom and Bust: A Global History of Financial Bubbles