Why Do People Change in Crowds?

Kennedy: Why do people change in crowds? Crowds have this extraordinary inbuilt dynamic to grow. We suspend our critical faculties in the crowd, and we sussume horself to this internal energy. The vast majority of people are what they call, in economics, momentum investors. So warren buffet is the classic value investor, and his mantre is, be greedy when everybody else is terrified, and be terrified when everyone else is right. It's a very good book about investing called just one thing yes.