Since the advent of the modern market economy in the early 18th century, the pattern of vaulting boom followed by depressing bust has been a constant. While the details differ, there is little fundamental difference, for example, between the South Sea bubble which so entranced the London of Isaac Newton, and the property bubble which so captured the Ireland of Bertie Ahern. More recently, investing was a rollercoaster in 2020. Arguably more than ever, the wrenching reality of radical uncertainty was impossible to avoid. Even if we wished it otherwise, the pervasive reach of modern media ensures that market gyrations…

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