For as long as people have paid for things, some have overpaid. When everybody is really excited about a certain investment or asset, rationality can often go out the door. Investors act like the value of some things will go up forever. Of course, nothing ever does. The story always ends the same way.
From the very first known instance of irrational exuberance to the ones that have personally affected us, financial bubbles and market crashes shake economies. Many of these tales you’re about to read are downright unbelievable. By learning about the past, we can attempt to avoid the mistakes of those who made them before us.