Last week’s hysterical reaction of the Irish masses to a bit of snow betrayed a herd mentality that astute investors will recognise instinctively. Images of supermarket shelves purged of all sliced bread suggested another coming of the Emergency. It emphasised the poor diet of people in this country and also that when fear battles with logic, logic tends to lose.
The clamour to stock up on bread recalled Michael O’Leary’s astute reaction to...
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