Originally Posted by honestinvestor
what is dxg?
The modern day version of "Tulipmania".
Extraordinary Popular Delusions and the Madness of Crowds is a popular history of popular folly by Charles Mackay, first published in 1841. The book chronicles and vilifies its targets in three parts: "National Delusions", "Peculiar Follies", and "Philosophical Delusions".
Present day writers on economics....laud the three chapters on economic bubbles.
Among the bubbles described by Mackay is the Dutch tulip mania of the early seventeenth century. According to Mackay, during this bubble, speculators from all walks of life bought and sold tulip bulbs and even futures contracts on them. Allegedly, some tulip bulb varieties briefly became the most expensive objects in the world, until the bubble burst in 1637.
If Mackay had written his book today......he would no doubt include a discussion on DXG.