Dutch Tulip Bulb Bubble Bursts…Again

by Mr Juggles

From Marginal Revolution comes news that the Dutch were fooled again and fell victim to the siren’s song of tulip bulbs:

Over here in the Netherlands, court proceedings are starting this week on the “biggest speculation fraud ever in the Netherlands”, according to a national newspaper that ran a big story about it today. Investors have lost tens of millions of euros in what turned out to be a big pyramid scheme.

Now for the ultimate irony. Any idea what these people were investing in? Tulip bulbs. Really.

Recommendation: These investors committed Number 37 of The 63 Classic Investing Blunders: Never invest in tulip bulbs in the Netherlands. Listed right after Number 36 — Never Invest Money with Orange People.

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