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Quote of the Day (Feb. 23, 2008)

February 23, 2008

"Mob mentality is an amazing thing. Because it makes us feel good to follow along, even when it's into disaster. It is not so much bad luck we want to avoid as being on our own. Being able to say along with several others, 'I lost a lot on this or that stock, too!' is comforting. Why it is that a recession should be less painful if we are all suffering the ill-effects isn't clear. But mankind is first of all a herd animal and fears nothing more than not being part of the herd โ€” win or lose."

-- Lila Rajiva, author, Mobs, Messiahs, and Markets


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Quote of the Week

  • "[L]et me assert my firm belief that the only thing we have to fear is...fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance...."

    — Franklin D. Roosevelt, 32nd president of the United States

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