If you have tuned into the financial news lately, you have probably heard the words “financial bubble” mentioned more than a few times. The first great financial bubble was “Tulipmania”. Tulipmania occurred in the Netherlands during in the 17th century. Without giving the full backstory of how this phenomenon began, tulips were introduced to Europe from the Ottoman Empire around 1550. These flowers were different from anything in Europe due to their intense color. They quickly became a symbol of status and were seen as luxury items. Speculators entered the market, buying and selling tulip bulbs with the expectation of making a profit.