I’ve posted Entry #103 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s titled Investor Greed Is Not the Problem.
Juicy Excerpt: People see stock prices going up as if by magic and they ignore it for a time because phony stock profits just don’t seem real. But then those profits just keep coming for their friends and neighbors and co-workers. Eventually, they give in. We feel foolish not participating in such an easy game. That’s not greed. It’s sociability.