To the best of my knowledge and belief, the average American newspaper, even of the so-called better sort, is not only quite as bad as Upton Sinclair says it is, but 10 times worse, 10 times as ignorant, 10 times as unfair and tyrannical, 10 times as complaisant and pusillanimous, and 10 times as devious, hypocritical, disingenuous, deceitful, pharisaical, Pecksniffian, fraudulent, slippery, unscrupulous, perfidious, lewd and dishonest.
John Maynard Keynes
A conventional valuation which is established as the outcome of the mass psychology of a large number of ignorant individuals is liable to change violently as the result of a sudden fluctuation of opinion due to factors which do not really make much difference to the prospective yield; since there will be no strong roots of conviction to hold it steady.
