The ExtraordinaryPopularDelusions and the Maddness of Crowds by Charles MacKay should be mandatory reading for advisers and clients, said Randy Carver, senior vice president at Raymond James.
ExtraordinaryPopularDelusions and The Madness of Crowds, although someone should revise it and add new chapters on the Nifty Fifty bubble of the 1970s, Japan bubble of the 1980s, Asia financial crisis of 1997, dotcom bubble of 2001 and US housing bubble of 2007.