Speculative behavior continued from "summary" of The Great Crash 1929 by John Kenneth Galbraith
The sense of financial security was ubiquitous in the autumn of 1929. Everyone had a stake in the market, and everyone believed in its permanence. The speculative mood had spread like a contagion, infecting even the most cautious investors. The lure of easy money was too strong to resist, and the fear of missing out on the next big opportunity drove people to take increasingly reckless risks. The prevailing attitude was one of blind optimism, fueled by a faith in the infinite capacity of the market to deliver ever-increasing returns. Speculative behavior had become the norm, with investors chasing after the latest hot stock or following the advice of self-proclaimed experts. The notion of a market correction seemed absurd, as prices continued to climb to dizzying heights. Despite mounting evidence to the contrary, the belief in the invincibility of the market persisted. Even as cracks began to appear in the facade of prosperity, investors clu...
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