#1788

Mentioned in 16 episodes

Extraordinary Popular Delusions and the Madness of Crowds

Book • 1932

David J. Schneider

This book, first published in 1841, is an early study of crowd psychology by Charles Mackay.

It chronicles numerous instances of mass hysteria and popular delusions, including economic bubbles like the South Sea Bubble and Tulipomania, the Crusades, witch-hunts, and other peculiar follies.

Mackay presents these examples to illustrate how easily the masses can be led astray by various delusions and how human folly remains a constant across different times and places.

The book is divided into sections such as 'National Delusions,' 'Peculiar Follies,' and 'Philosophical Delusions,' and is known for its engaging and witty narrative style.

Mentioned by

Chris Bloomstran

Alasdair Macleod

Anthony Yoseloff

Christopher Bloomstran

Mentioned in 16 episodes

Mentioned by

Tim Ferriss

as a book that explores crowd madness.

#604: Master Investor Ed Thorp on How to Think for Yourself, Mental Models for the Second Half of Life, How to Be Inner-Directed, How Basic Numeracy Is a Superpower, and The Dangers of Investing Fads

Mentioned by Chuck Bryant as a source that promulgated the Tulip Mania myth.

Chinese Food: Best Food?

Mentioned by

Tai Lopez

as a book about boom times, recessions, and crazy trends.

#730 - How to be Rich and Wise

Recommended by

Bill Bernstein

as a book that describes events from the past that are still relevant today.

Efficient Frontier Advisors Co-Founder & Neurologist Bill Bernstein

Mentioned by

Ray Dalio

when discussing historical cycles and recurring patterns.

Principles for Work and Life

Mentioned by

Owen Lamont

as a historical text on financial bubbles, despite its flaws.

Market Bubbles With Owen Lamont, Autonomous Vehicles Everywhere, Barron’s Roundtable

Mentioned by

Kyle Grieve

in relation to Tulipomania and its analysis.

TIP673: A Short History Of Financial Euphoria w/ Kyle Grieve

Recommended by

Anthony Yoseloff

as a classic book on speculative bubbles and crowd psychology.

The Absolute Return Revival with Tony Yoseloff

Mentioned by

Peter Schiff

as a book describing what is happening with Bitcoin.

Peter Schiff: Gold Will Replace U.S. Dollar As Neutral Reserve Asset (But He Has His Own Strategic Bitcoin Reserve)

Mentioned by

Tim Harford

as a book that contains a story about a sailor who accidentally ate a rare tulip bulb.

LIVE: The Myth of the Million Dollar Tulip Bulb

Mentioned by

Christopher Bloomstran

in the context of tulip mania and speculative bubbles.

Christopher Bloomstran: Value, Patience, and Trust: Sharing Investment Wisdom and Navigating Market Challenges

Mentioned by

Adam Taggart

, quoting the author to emphasize the herd mentality in society.

Is Worry Dead? Nearly All Assets Are Rising Now | Lance Roberts

Mentioned by

Bill Kristol

as a book that was popular among conservatives in the early 19th century, vaguely referencing its anti-democratic sentiment.

Renée DiResta on Social Media, Political Power, and Elon Musk

Mentioned by

Chris Bloomstran

when discussing the tulip mania of the 1630s and the Semper Augustus tulip.

RWH032: The Vigilant Investor w/ Chris Bloomstran

Mentioned by Doug during his trivia segment, discussing the book's relevance to tulip mania.

10 Ways to Stop Blowing Up Your Investment Portfolio (SB1660)

Mentioned by

Frank Vasquez

in relation to William Bernstein's book, highlighting the enduring relevance of his observations on human behavior.

Episode 401: Generous Times, More Cowbell, Choosing Appropriate Retirement Role Models, Short Term Bonds, And Portfolio Reviews As Of February 7, 2025

Mentioned by

Alasdair Macleod

, suggesting Charles Mackay would have included MicroStrategy's scheme in a new chapter on bubbles.

Alasdair Macleod: UK's Worrying Sterling CRISIS & G7 On Brink of Total INSOLVENCY

Mentioned by

Dave Rosenberg

as a book to read over the break.

Market Turned Up Roses In 2024 with David Rosenberg

Mentioned by

Michael Martin

as a key resource for understanding market psychology and crowd behavior.

Catching the turns for big gains with Jason Shapiro

Mentioned by

Chris Scull

as the source of much of the hyperbole around the Dutch tulip craze.

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

App store banner

Play store banner