“It was not hard to persuade people that the market was sound; as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.”
Describes how market confidence is cultivated by silencing doubt and promoting frequent optimism, especially in turbulent times.
In simple terms: Confidence is built by muting doubt and encouraging optimism.
Promote optimism, limit doubt.
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Overconfidence can lead to bubbles.
