Part 5/9:
One of the most famous episodes from this early market history is the tulip mania of the 1630s in the Netherlands. Tulips, once a luxury good and status symbol, became an object of speculation, with individuals mortgaging homes to invest in bulbs with the expectation of selling them for a profit. Ultimately, the tulip market collapsed, revealing the fragility of speculation and how quickly belief can turn to panic, leading to catastrophic financial consequences.