As some of you may know, I’m a big fan of Gustave Le Bon’s books; in particular I like The Crowd: A Study of the Popular Mind. I reread it (again) last week and was delighted to uncover some insights that I had not recognized fully before. So I thought I’d share some of them with you because I think that a sound understanding of crowd psychology is really useful for constructing or refining your investment process.

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