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The same basic ingredients are found repeatably: fueled by initially well founded economic fundamentals, investors develop a self-fulfilling enthusiasm by an imitative process or crowd behavior that leads to an unsustainable accelerating overvaluation.

— Didier Sornette Why Stock Markets Crash - Critical Events in Complex Systems (2003)

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More quotes by Didier Sornette

Thus the so-called Moore's law is incorrect, since it implies only an exponential growth.

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

The point is that humans are rarely at their best when they use rational reasoning.

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Since it is the actions of investors whose buy and sell decisions move prices up and down, any deviation from a random walk has ultimately to be traced back to the behavior of investors.

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

The incentives that people need to work and to find meaning in their lives should be found beyond material wealth and power.

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Perhaps the most profound synthesis of physical sciences came from the realization that everything could be understood from "conservation laws" and symmetry principals.

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

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Quote text and notes from Wikiquote: Didier Sornette (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.