............................................................especially about the future:
"Stock prices have reached what looks like a permanently high plateau," declared the eminent Yale economist Irving Fisher in the autumn of 1929. A few weeks after this oracular pronouncement, the Dow Jones Industrial Average had declined by more than a third. The worst was still to come. On 8 July 1932, the Dow Jones closed at 41.88, a drop on nearly 90 percent from its 1929 peak.
Edward Chancellor,
Devil Take The Hindmost: A History Of Financial Speculation
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