“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.

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The same basic ingredients are found repeatably: fueled by initially well founded economic fundamentals, investors deve…" by Didier Sornette?
Didier Sornette photo
Didier Sornette 27
French scientist 1957

Related quotes

Lim Guan Eng photo

“When you improve the people's economic well-being, it will lead to higher wage increases and higher purchasing power, which will lead to better economic growth. This is a self-fulfilling and virtuous cycle.”

Lim Guan Eng (1960) Finance Minister of Malaysia

Lim Guan Eng (2018) cited in " Govt not just in cost-cutting mode, says Lim https://www.thestar.com.my/news/nation/2018/10/10/govt-not-just-in-costcutting-mode-says-lim/" on The Star Online, 10 October 2018

David C. McClelland photo

“Explaining economic growth - The achievement motive : how it is measured and its economics effects - Achieving societies in the modern world - Achieving societies in the past - Other psychological factors in economic development - Entrepreneurial behavior - Characteristics of entrepreneurs - The spirit of Hermes - Sources of n achievement - Accelerating economic growth.”

David C. McClelland (1917–1998) American psychological theorist

Book abstract
The Archiving Society, 1961

Francis Heylighen photo

“W. Ross Ashby is one of the founding fathers of both cybernetics and systems theory. He developed such fundamental ideas as the homeostat, the law of requisite variety, the principle of self-organization, and the principle of regulatory models.”

Francis Heylighen (1960) Belgian cyberneticist

" Ashby's book "Introduction to Cybernetics http://pespmc1.vub.ac.be/ASHBBOOK.html" at Principia Cybernetica Web, 1999-2003
Principia Cybernetica Web, 1999-2003

W. C. Allee photo

“Widely dispersed knowledge concerning the important role of basic cooperative processes among living beings may lead to the acceptance of cooperation as a guiding principle both in social theory and as a basis for human behavior. Such a development when it occurs will alter the course of human history.”

W. C. Allee (1885–1955) American zoologist and ecologist

Cooperation among Animals with Human Implications (1951), page 213 (cited in "The Altruism Equation", by Lee Alan Dugatkin (2006), page 58).

Bruce Lee photo

“Only the self-sufficient stand alone - most people follow the crowd and imitate.”

Bruce Lee (1940–1973) Hong Kong-American actor, martial artist, philosopher and filmmaker

“… I examined the concept, 'word sense'. It was not found to be sufficiently well-defined to be a workable basic unit of meaning.”

Adam Kilgarriff (1960–2015) linguist from England

in I don't believe in word senses http://www.kilgarriff.co.uk/Publications/1997-K-CHum-believe.pdf (1997), p. 25

Adam Schaff photo

“A system of opinions which, being founded on a system of accepted values, determines the attitudes and behavior of men with respect to desired objectives of development of the society, social group or individual.”

Adam Schaff (1913–2006) Polish Marxist philosopher and theorist

Adam Schaff (1967), "Functional Definition, Ideology, and the Problem of the 'fin du siècle' of Ideology." L’Homme et la Société, April-June 1967. pp. 49-61; p. 50

Brandon Sanderson photo

“He found insanity no excuse, however, for irrational behavior.”

Brandon Sanderson (1975) American fantasy writer

Source: The Well of Ascension

Edward O. Wilson photo

“Most kinds of aggressive behavior among members of the same species are responsive to crowding in the environment.”

Edward O. Wilson book On Human Nature

On Human Nature (1978), Ch.5 Aggression

Related topics