In the words of Charles Mackay, author of the famous text Extraordinary Popular Delusions and the Madness of Crowds:

"In reading the history of nations, we find that, like individuals, they have their whims and their peculiarities; their seasons of excitement and recklessness, when they care not what they do. We find that whole communities suddenly fix their minds upon one object, and go mad in its pursuit; that millions of people become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first."

Panic of 1869

Do we have a mania now in U.S. equities? What are some of the psychological signs in today's society that we do? What lessons can we learn from the two stocks pictured below? Why have they both vaulted over 500% in less than a month? What does the Panic of 1869 have in common with society today?

Explore these topics and more in our latest pay-per-access article "A Certain Fixation," that is nine pages in length, and looks at various psychological and socialogical manifestations in today's society, as well as some specific equity situations. It is available for sale below at $25 (20% discount if you order both of our articles at the same time), or by Quarterly Subcription to Sandspring.com (all pay-access articles past, present, and future) available for just $65.

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Disclosure Statement

Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.