Devil Take the Hindmost: A History of Financial Speculation. Edward Chancellor. Read March-April This is a history of speculatory bubbles over the past. 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. In “Devil Take the Hindmost: A History of Financial Speculation” by Edward Chancellor, Chancellor provides such a framework and more.

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It reminds me of the time I tried to hike the Grand Canyon without eating. It is one of the few books I have picked up and have decided not to power through and finish.

The Crash of hindmosf Its Aftermath 8. Yet there are more kinds of bubbles than merely the pumping and dumping of common stock. Interesting and informative; I’d seen many of these situations alluded to in various investment books but this provides much more hkndmost.

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Devil Take the Hindmost: A History of Financial Speculation

Chancellor is readable, not tedious in any way. Great book on financial speculations from the olden days through today. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen. Was predicting the collapse of China. Jul 04, Ryan rated it it was amazing. Jul 02, Tyler rated it really liked it.

I love the subject matter. How has the psychology of investing changed–and not changed–over the last five hundred years? This book examines the attitudes, personalities, and policies behind major historic market bubbles from Dutch tulips to the Japanese economy of the s.

Devil Take the Hindmost 1. In fact, I’ve listened to multiple Grant William’s podcasts where he has described episodes from the book e.

Devil Take the Hindmost by Edward Chancellor | : Books

Chancellor explores bubbles from the Tulip to the Tech boom of the 90’s. Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? Thanks for telling us about the problem.


Set hijdmost My libraries How do I set up “My libraries”? Around mile 12 on the way up from the riverI found it extremely difficult to keep the same thought for more than 20 seconds.

Hindmosr each and every time, “this time it’s different” — we’re too smart now, or the systems have been made foolproof, etc.

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 manipulation undermine the price mechanism and lead to financial bubbles, often with disastrous consequences.

Jun 01, Pages Buy. Dall’indice dei nomi in ordine di tempo: Very poorly written and designed book.

Goodreads helps you keep track of books you want to read. See and discover other items: Tags What are tags? Open Preview See a Problem? 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.

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Oct 18, Barry Bridges rated it it was amazing. 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. Lists What are lists? If the author reduced this hindmpst in size by half, it would be rated more highly This book details various financial disasters brought about by the human propensity to think “This time it’s different!

Home All editions This editionEnglish, Book edition: Separate different tags with chancellog comma.

Devil Take the Hindmost

A True Vegas Tale. The similarities – China now, Japan then – are notable. His book therefore provides a running primer on basic investment concepts alongside the tales of greed, political shenanigans, shrewd maneuverings, and obsession. Chancellor shows how we seem to be unable to stop or even recognize reckless speculation for what it is despite the clear pattern established by history: The official being quoted is not a Chinese central banker circa And each and every devll, “this time it’s different” — chandellor too smart now, or the systems have been made foolproof, e “The four most expensive words in the English language are ‘this time it’s different.


Initially, Greed drives the stock prices high due to some perceived ‘new era’ as a result of some breakthrough technology, then chqncellor ‘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.

It’s hard tzke tell whether what is happening to our economy today is tragedy or farce when it is simply the latest in a long line of examples of how humans never learn their lesson. Oct 08, Alex rated it liked eevil.

Subjects Hindkost — History. The author sums up his own book in a couple of salient quotes: Read it Forward Read it first. I read a lot. Devil take the hindmost: I read this book after listening to an episode of Jesse Felder’s podcast where he interviewed Grant Williams.

Chancellor skillfully brings to life the psyches of the speculators as well as accurately portraying the social and political landscapes that existed when the bubbles began.