Sunday, September 20, 2009

The Crash of the Speculator

Something ventured, nothing gained.

"Lundi, j'achetai des actions;
Mardi, je gagnai des millions;
Mercredi, j'arrangeai mon ménage,
Jeudi, je pris un équipage,
Vendredi, je m'en fus au bal,
Et Samedi, à l'hopital."

(Monday, je bought some shares;
Tuesday, I became a millionaire;
Wednesday, I fixed up my ménage;
Thursday, I took a horse and carriage;
Friday, I went to dance at a ball,
And Saturday, to the hospital.)

--Popular epigram following the collapse of the French financial markets and entire financial system in 1720.

Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds, "The Mississippi Scheme" (1841).

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