My blogger’s guilt has gotten the best of me, so I’m doing a quick comment-cleaner post.
I am hard at work on my newest book for John Wiley & Sons, tentatively called History and Hysteria. It’s a history book about the financial markets, and it’s by far the hardest book I’ve ever written. I’m also having great fun writing it, on the whole.
Even though I lived very close to the Internet bubble (on multiple dimensions), I had forgotten just how insane it was. I just created a chart showing the biggest IPO day “pops” in stock price. VA Linux, for instance (ummm, who????) had nearly a 700% gain on its first day of trading.
It’s no wonder that people felt so burned after this madness. It’s actually kind of incredible to me that the public still trades at all, after the Internet crash and the Real Estate crash……….once the Sovereign Debt crash finally happens (any f*cking year now…….) maybe the third time will be the charm and everyone will finally wise up.
Actually, no. No, they won’t.
Good night.
