August 22, 2019 posted by

Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the. Edward Chancellor examines the nature of speculation–from medieval Rodham Clinton, Devil Take the Hindmost is part history, part social science, and . Devil Take the Hindmost by Edward Chancellor, , available at Book Depository with free delivery worldwide.

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Maybe, during the time period sregulation or deregulation didn’t matter as much as greed Similarly, I found myself trying to get into what Chancellor was writing, only to find myself skimming as fast as I could 20 seconds later.

Shop for Books on Google Play Browse the world’s largest eBookstore and start reading today on the web, tablet, phone, or ereader. I thought, why didn’t his editor do this Login to add to list. LitFlash The eBooks you want at the lowest prices. Want to Read Currently Reading Read. Unfortunately, I decided to read this book after such a recommendation. When certain practices are outlawed and some modern complex financial practices have surprisingly long historiespeople just find loopholes or alternative approaches through which to accomplish the same thing.

If the author reduced this book in size by half, it would be rated more highly Three main lessons for me: Whether it’s “this time is different”, corrupt politicians, or the madness of the crowd, bubbles have been there and will continue to be.

In Cowboy Capitalism, Sdward argues that Reagan’s deregulation led to all the excess of the s and spread of the hindmots in the s.

Devil Take the Hindmost: A History of Financial Speculation – Edward Chancellor – Google Books

He seems to view financial speculation as a necessary evil that regulation can do little to stop. The arguments in the book are only bolstered by the fact that it was written in and he mentions credit default swaps and mortgage-backed securities as the possible instruments of a future bubble and crisis. Jan 27, Nicholas Stocks rated it really liked it. Jun 01, Pages.

Edwaard it looks to me that his own book shows that it is endemic to the Free market system because of the above mentioned fundamental human failings. I thought this was a great book.


Great mix on history of financial markets, psychology of speculation and biggest bubbles of all times. Sign up here to receive your FREE alerts. To include a comma in your tag, surround the tag with double quotes.

Devil Take the Hindmost: A History of Financial Speculation

Chanc I read this book after listening to an episode of Jesse Felder’s podcast where he interviewed Grant Williams. And each and every time, “this time it’s different” — we’re too smart now, or the systems have been made foolproof, e “The four hinsmost expensive words in the English language are ‘this time it’s different.

I enjoyed this book. What makes this book so good is the wa I picked up this book because I’m interested in everything that concerns investing and speculation.

A True Vegas Tale. Dec 27, Andy M rated it it was amazing Shelves: The small original group eventually sells out, revil the ignorant and over-optimistic latecomers holding an investment now worth far less than the price that they paid for it.

In some sense, this book is more about the great human failings of Greed, ‘Follow the Leader’ mentality, Fear and Panic – all told through examples from the history of the stock market.

That means it predates both the subprime real estate collapse and the dot. The old mantra about history repeating itself has clearly inspired British financial journalist Chancellor a contributor to the Financial Times and the Economist to write this book at this point in time.

The complexity of financial schemes as early as the s was particularly eye-opening. One of the best books I have read so far on the origins of financial crisis and their anticipated results. He isn’t opposed to financial regulation, merely resigned to the fact that it will be an ongoing game of whack-a-mole.

Devil Take the Hindmost : A History of Financial Speculation

Dall’indice dei nomi in ordine di tempo: Oct 18, Barry Bridges rated it it was amazing. I enjoyed this history, but it can be dry, and at times is a bit overstuffed with names, unimportant details, and microbiographies. Although many volumes have already appeared on both financial speculation in general and individual historic events in particular, even well-informed readers will find new material and interpretation here. Well worth a read for anyone interested in investing and history.


Jan 16, Samuel Gruen rated it liked it Shelves: Great book on financial speculations from the olden days through today. A contributi Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly?

This history of financial speculation is an interesting hincmost at one of the many negative aspects of human nature. Instead, we have to just learn to overcome our twin traits of Greed and ‘follow the leader’ mentality. Chancellor opens his financial adventure story with a rational and articulate description of speculation, then along the way introduces ever-more- convoluted investment strategies and practices, accompanied by articulate descriptions of terms.

That markets are beneficial and usually clear, sure, but Chancellor, an ex-banker, gives many examples of ways in which irrationality, group madness, and outright mani It is difficult for me to imagine someone reading this book and remaining a true believer in the “efficient market hypothesis” the devol that the price of a security at any given time reflects all the available information and only responds to new information rather than the “mood” of the chancellod or manipulations of speculators.

The history he presents is one of speculative manias adapting to and circumventing every control that governments and markets have attempted to place on them. Even better, Chancellor makes sure to get his facts right, and I’m quite impressed at the work he has gone through to find all the stories and facts. Some variation of buying stocks on margin is particularly common; Chancellor documents how it was reinvented despite the limits on straight margin purchases instituted after the Great Depression.

Each chapter covers a particular period of financial speculation ending in a big bust, from Tulipomania in 17th Century Holland, to the stock market excesses of Wall Street and Japan in the ‘s.