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case file II: the south sea event

britain, 1720

Britain, 1720. A nation with a trading company and a promise.

The company's shares climbed, and climbed. People who understood almost nothing about its business bought in anyway.

Among the buyers was the man who explained gravity. He reportedly lost a large sum.

Then the price fell. Gravity, it turned out, applied to shares as well.

accounts of individual losses vary by source. the fox has averaged them. the average is embarrassing.

conclusion: predictable.

prediction 002: 55% of you will assume you are smarter than him.

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