It is 30 years since the first DeLorean DMC-12 rolled off the production line in Belfast. This iconic car, made famous in the Back to the Future movies, was one of my favourite cars as a child. Graham Brownlow, a colleague and friend from QUMS, is currently writing a paper on the DeLorean company - I can't wait to read it!
My colleague and former PhD student Gareth Campbell has created a website about the British Railway Mania - click here . This episode has been described by the Economist as probably the greatest bubble in human history. Gareth's website provides background on the Mania and posits some explanations for the 'bubble'. In his explanation of why the bubble happened, Gareth places a lot of emphasis on investor myopia regarding future dividends and uncalled capital. His study of investors during the episode does not support the view that this episode was fuelled by naive and irrational investors.