By Bob MorrisIt is helpful to our understanding of financial speculation early in the 21st century to view it within an historical framework. In Devil. 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. Devil Take the Hindmost by Edward Chancellor, , available at Book Depository Devil Take the Hindmost: A History of Financial Speculation.

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Devil Take the Hindmost: A History of Financial Speculation

Devil Take the Hindmost: Lists with This Book. Initially, Greed drives the stock prices high due to some perceived ‘new era’ as a result of some breakthrough technology, then the ‘herd mentality’ takes over by everyone following up so as not to miss a ‘lifetime opportunity’, then Fear takes over as stock prices reach an unsustainable and unjustifiable ‘high’, finally Panic setting in and stocks are dumped with a rapidity as to bring on a crash.

The Japanese Bubble Economy of the s Epilogue: So, Speculation is here to stay and we better learn to live with it. Apr 20, Ramnath Iyer rated it it was amazing Shelves: Galbraith had written perceptively about it decades ago in his book on ‘Money’.

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.


The author links the madness of financial speculation to Bakhtin’s notion of the carnivalesque, pointing out that in the middle ages, it was during fairs and carnivals that laws barring financial speculation were suspended.

Read it Forward Read it first. himdmost

Amazon Renewed Refurbished products with a warranty. Feb 11, Noah Goats rated it really liked it. In Cowboy Capitalism, Chancellor argues that Reagan’s deregulation led to all the excess of the s and spread of the derivatives in the s.

Devil Take the Hindmost

I spent lunch with Chancellor when he was at GMO or AmazonGlobal Ship Orders Internationally. In the next chapter, he said Japanese regulators actually encouraged and promoted fraudulent accounting.

He uses significant unnecessary footnotes and asterisks that destroy the flow of the book. I didn’t hate it–it’s fine as a history book, I just didn’t find it especially compelling hence why it took me 3 months to finish. A scanso di equivoci: The Origins of Financial Speculation 2.

Apr 23, Raghu rated it it was ok. We are experiencing technical difficulties.

If it is a chore for me to read, it means the author wrote poorly. The book is not a fast paced read. Chancellor did some excellent research and tied it all together very nicely while bringing it all back to the basic theme that humans have always had great propensity for greed and foolishness. I majored in finance in college and had a hard time keeping up. Return to Book Page. The Crash of and Its Aftermath 8.

With that being said, this is a financial speculation history book.


Devil Take the Hindmost : Edward Chancellor :

Discover Prime Book Box for Kids. He said that the next wave of speculation always happens when all the effects of the previous bout of speculation fades in popular memory.

The author sums up his own book in a couple of salient quotes: Instead, we have to just learn to overcome our twin traits of Greed and ‘follow the leader’ mentality. There are voluminous footnotes which distract the reader. It’s unfortunate, lots of gems, but too rough. Read more Read less. This book turned out to fit well into the history category – if you’re looking for advanced financial analysis you won’t find it here, although the author clearly knows what he’s degil about.

Jun 01, Pages Buy. 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.

Pages with related products. The Railway Mania of 6.

No amount of regulation will be able to stop Speculation. There are no discussion topics on this book yet.