Best Seller. Devil Take the Hindmost by Edward Chancellor. Buy . “A lively history of speculative manias and bubbles by a British banker turned writer.”— Susan “This Bubble World”: The Origins of Financial Speculation 2. Buy Devil Take the Hindmost: A History of Financial Speculation Reissue by E Chancellor (ISBN: ) from Amazon’s Book Store. Everyday low. Devil Take the Hindmost has ratings and 63 reviews. Michele said: One of the best economic books I’ve read in a long time, and I studied economics.
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Devil Take the Hindmost
In fact, I’ve listened to multiple Grant William’s podcasts where he has described episodes from the book e. Once I realized the poor writing style was too blame for my headaches after 20 minutes of reading, I started self-editing the passages.
The Projecting Age of fihancial s 3. No amount of regulation will be able to stop Speculation. However, Galbraith suggested that new regulators can step in every few years and bring on new rules so that speculators do not have enough time to exploit the previous set hixtory rules and sleculation on a crash.
Return to Book Page. Chancellor explores bubbles from the Tulip to the Tech boom of the 90’s. Buy the selected items together This item: Get fast, free shipping with Amazon Prime. That markets are beneficial and nistory 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 notion 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 market or manipulations of speculators.
Anyone who has read Kindleberger’s ‘Manias, Spsculation and Crashes’ would find very little new material here. Entertaining and highly recommended if you hixtory history and psychology.
Jul 04, Ryan rated it it was amazing. Thanks to Chancellor we learn the Latin meaning of the word speculator: Many books have referred to it. In the early s he worked for the investment bank Lazard Brothers. Edward starts with the Tulip Mania of the s and provides many examples of financial speculation running up through the late s.
Knew about this but was astonished by the scale and mass of those manipulations! There is no point in blaming the Regulating authorities.
Devil Take the Hindmost : Edward Chancellor :
Hlstory book turned out to fit well into the history category – if you’re histtory for advanced financial analysis you won’t find it here, although the author clearly knows what he’s talking about. He seems to view financial speculation as a necessary evil that regulation can do little to stop. This is especially true when they are motivated by fear and greed. The bubble stories remain interesting as he dishes on the ship of fools that fuel and participate in each.
Supported by this safety net – rising markets – export-oriented industries were supposed to reshape themselves so they could adapt to a domestic-led economy.
I thought, why didn’t his editor do this If it is a chore for me to read, it means the author wrote poorly. Be the first to ask a question about Devil Take the Hindmost. Chancellor reveals that two millennia ago there were joint stock companies with thousands of employees slavespublic accounts, and even joint shareholder meetings with differing classes of company shares. Top Reviews Most recent Top Reviews.
For example, in one sentence I removed two prepositional phrases and made the sentence have active voice. I spent lunch with Chancellor when he was at GMO or Needless to say, pollyanna permabulls will not much like this book. He is a freelance journalist, and lives in London. There is a ton of history Holy moly this book has a lot of information. The book is not a speculatjon paced read. The arguments in finanxial 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.
A compelling and balanced view of financial speculation that leads to the reasonable conclusion that the overextension of credit is the cause of financial instability.
Write a customer review. Chancellor’s book brings to light many incidents that point to a pattern that seems to repeat.
Want to Read saving…. In fact, with U. Chancellor shows how we seem to be unable to stop or even recognize reckless speculation for what it is hondmost the clear pattern established by history: Mar 02, Maximus rated it really liked it Shelves: A contributi Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? Whether hiindmost “this time is different”, corrupt politicians, or the madness of the crowd, bubbles have been there and will continue to be.
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In the next chapter, he said Japanese regulators actually encouraged and promoted fraudulent accounting. Human devvil was certainly the same. Amazon Advertising Find, attract, and engage customers.
Instead, we have to just learn to overcome our twin traits of Greed and ‘follow the leader’ mentality.