My recent lack of blogging is down to my new training regime. On Monday I will be running the Belfast Marathon along with a group of colleagues and students from Queen's Management School. We are raising money for Marie Curie Cancer Care, a great charity which helps care for the terminally ill. If you would like to donate to this worthy cause, please CLICK HERE.
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.