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Jan. 4--"The more intense the craze, the higher the type of intellect that succumbs to it," wrote Benjamin Anderson in Economics and the Public Welfare in 1949.
The New York Times revived the phrase to hang on a feature about how America's investors did on 2001. Never mind the schoolteachers and bank tellers who invested their life savings in dot.com vapour. Spare a thought as well, the paper said, for the best and brightest of the billionaire investor class.
"Many of the super-rich, in fact, got into trouble the same way so many little guys do: they got carried away by an investment fad at its very top, making ill-considered deals at the height of a ...
Source: HighBeam Research, Bangkok Post, Thailand, Insider Column.