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The Green Bubble by Per Wimmer

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CHAPTER 5:

IT’S NOT EASY BEING GREEN

Sunning itself at the heart of Bubble psychology is an uncritical, almost irrational belief in the absolute and irreversible benefits of a trend or an idea. In the mid-to late-1990s, investors were set on fire by the idea of the internet. The Internet Bubble began in earnest in 1995 with the stock market flotation (or IPO – initial public offer – in tradespeak) of Netscape, the US internet browser business. There were two striking things about this listing. One was that so many investors wanted a piece of the action that, at the very last minute, the issue price was doubled from $14 per share to $28 (it hit $75 on the first day of trading before gradually returning to earth). The other was that all of this ...

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