Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics, the one thing that strikes you most forcibly is how little either stock speculation or stock speculators today differ from yesterday. The game does not change and neither does human nature.
Edwin Lefèvre (2004). “Reminiscences of a Stock Operator”, p.165, John Wiley & Sons