“The same basic ingredients are found repeatably: fueled by initially well founded economic fundamentals, investors develop a self-fulfilling enthusiasm by an imitative process or crowd behavior that leads to an unsustainable accelerating overvaluation.”

— Didier Sornette

Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 7, Autopsy Of Major Crashes, p. 272.

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Didier Sornette27

French scientist 1957

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“The same basic ingredients are found repeatably: fueled by initially well founded economic fundamentals, investors develop a self-fulfilling enthusiasm by an imitative process or crowd behavior that leads to an unsustainable accelerating overvaluation.”

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Didier Sornette27

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