alt Hacker NewsIs that not the commonly cited example for commodity trading, whereas meaningful comparison of fundamentals to market capitalization only started much later?
Is that not the commonly cited example for commodity trading, whereas meaningful comparison of fundamentals to market capitalization only started much later?
The idea is broadly similar, but I guess here's another example with a company this time.
https://en.wikipedia.org/wiki/Bengal_Bubble_of_1769
The point is that I don't think irrational exuberance in stocks is a recent thing.