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“We have not yet begun to fight!" as said by my relative aboard the Bon Homme Richard when the English asked them to surrender as it was about to sink.”
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“It was easy enough to launch a new project in this over-heated investment environment. All one had to do was to find a person of known substance to act as a named sponsor, advertise the project in a paper, naming a coffee house where subscriptions would be taken, and turn up at the appointed place and time to issue receipts against investors' down payments. No business plan, authorisation procedure or prospectus was necessary and funds were entrusted to unknown persons who might (and sometimes did) abscond with the day's takings.”
― The First Crash: Lessons from the South Sea Bubble
― The First Crash: Lessons from the South Sea Bubble
