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Investing 5: Bubbles, Bikes, & Biases
Planet Money Summer School
The Bike Business Bubble Swells
In 18 96, ernest terra hooley buys a company called pneumatic tire for three million pounds. That's nearly ten times the company's original valuation. Now everybody wants to be in the bicycle business. The number of public companies associated with bicycle manufacturing goes from a couple dozen to more than 100.
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