It is another common feature of bull markets that as a mania progresses, the quality of the stocks that attract speculation declines–a rising tide floats all ships, even the most unseaworthy.
Devil Take The Hindmost by Edward Chancellor (pg. 26)
It is another common feature of bull markets that as a mania progresses, the quality of the stocks that attract speculation declines–a rising tide floats all ships, even the most unseaworthy.