The Wisdom of the Maddening Crowd

Sunday, October 19. 2008

The Wisdom of the Maddening Crowd

I see James Surowiecki, author of the Web 2.0 staple "The Wisdom of Crowds" is again starting financial and economic blogging at the New Yorker. As he notes:

To wit: My first Financial Page column for The New Yorker appeared in March of 2000, which just happened to be the month that the Nasdaq hit its all-time high and then started to plunge downward. In other words, the start of my column was an almost perfect contrarian indicator of the market’s performance. If the same is true this time around, then the start of this blog would be an excellent sign that we’re nearing a market bottom, and that we’re getting ready to bounce.

We live in hope.....

But even more, I look forward to his thoughts on the similarities between the Wisdom of Crowds, and that Financial Bubble classic Extraordinary Popular Delusions and the Madness of Crowds

Posted by Alan Patrick in Blogging & Blogs at 10:13 | Comment (1) | Trackbacks (0)

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I recall Mackay's book was referenced a few times in Frances Wheen's How Mumbo Jumbo Conquered The World, one of my favourite books of the noughties. Also good for making you laugh/think during the downtimes

#1 Deirdre Molloy (Homepage) on 2008-10-19 13:51 (Reply)

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