The upshot of bubbles

Financial bubbles get a bad rap. They’re actually perfectly normal and drive innovation

🫧 Economics | The good side of financial bubbles

When discussing losing money after the tech bubble popped, Stanley Druckenmiller, a fund manager, said, "I didn't learn anything. I already knew that I wasn't supposed to do that." Mr Druckenmiller had invested $6bn in tech stocks during the boom. Six weeks later, he'd lost half of it and his job.

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