Here’s my third Mandelbrot quote in a row, so you know what I’m currently reading. I must say, The Misbehavior of Markets; A Fractal View of Financial Turbulence is excellent!
“Are you living through a price bubble that will burst at any moment, so you should stay away? Or have the fundamental economic rules of the game changed, so that only a timid fool would not invest? Such is the confusion of scaling. It makes decisions difficult, prediction perilous, and bubbles a certainty.”