Richard D. Wolff

The boom-bust pattern in European investment is worth studying because it repeats with remarkable consistency, just with different assets each time. The Dutch tulips get cited constantly, but the same dynamics show up in railway manias, dot-com bubbles, and more recently in certain green energy and tech sectors. What’s useful about studying these cycles isn’t predicting the next one — that’s essentially impossible — but recognizing the pattern in real time and adjusting position sizes accordingly. The specific asset is almost irrelevant; the psychology is what repeats. There’s a discussion on https://lyrabet.com.gr about learning from financial history without pretending it predicts the future — the point about pattern recognition being more useful than forecasting was well-made. What period are you looking at?