Frenzy is an extremely compelling and insightful book. Carl Haacke takes one through the various stages of a bubble in a very engaging manner with quotations from those who really experienced it, benefited from it, and got burnt by it. It's a
page turning adventure through the most powerful forces that drive the innovative frontier of capitalism.
At the same time, it is chock full of penetrating insights that will grab even the savviest readers. One of the interesting things is that the book does not characterize bubbles as "irrational exuberance" or "group psychology" as many others have done. Instead, it shows how the phenonomenon is driven by very rational people caught in complex market conditions. Frenzy offers very valuable suggestions on indicators of bubbles, and warnings of information distortions during bubbles.
The book also does a great job showing that bubbles are not just about stock market but also about big businesses, small businesses and day to day decision making as people pursue seemingly huge opportunties.
I thorughly enjoyed the book.