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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The most prominent and notorious speculators Cornelius Vanderbilt, James Fisk, and Charles Keating, among others earn biographical profiles in the text. The story repeats in history following the same pattern.

That is not the case. I enjoyed this book. But whatever method is used, at the bottom is always some scheme for purchasing an asset using debt, magnifying both yake and negative price swings. It reminds me of the time I tried to hike the Grand Canyon without eating.

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

Oct 23, Viktor Nilsson rated it it was amazing Shelves: Hindmsot it is a chore for me to read, it means the author wrote poorly. The author doesn’t provide relevant information that is useful thr the context of each chapter. There is a ton of history about the stock markets going back chancellof Tulip Mania in the 17th century. I am thoroughly disappointed in this book. One of the best books I have read so far on the origins of financial crisis and their anticipated results.

I read a lot. Maybe, during the time period sregulation or deregulation didn’t matter as much as greed The first significant bubble described is, of course, the notorious tulip speculation in Holland, but Chancellor is more thorough than any previous history I’ve read. Want to Read saving…. Physical Description xiv, p. There’s a tendency to believe that complex derivative schemes are an artifact of modern financial markets, but they’ve been a part of speculation for as long as Chancellor goes back.


Devil Take the Hindmost: A History of Financial Speculation by Edward Chancellor

Chancellor’s writing style is probably the worst I’ve ever read. 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.

Comments and reviews What are comments? Farrar, Straus and Giroux. A contributing writer to The Financial Times and The Economistlooks at both the psychological and economic forces that drive people to “bet” their money in markets; how markets are made, unmade, and manipulated; and who wins when chancelloe runs rampant.

Devil Take the Hindmost : A History of Financial Speculation

This book was written before the bursting of the dot-com and housing market bubbles, but they followed the same pattern: Notes Includes hindmpst references p. Mar 19, Michele rated it it was amazing. Contents “This bubble world”: What makes this book so good is the way it explains financial history, mainly through anecdotes. To ask other readers questions about Devil Take the Hindmostplease sign up.

Check copyright status Cite this Title Devil take the hindmost: Chancellor also adds some interesting conclusions on what many bubbles seem to have in common and what thus can set them off in the first place.

We are a species of gamblers, and speculating in the stock market allows us to gamble while fooling ourselves into thinking that tje are contributing something to the economy. As I read this post great recession, I can see the looming derivatives bubble coming.


May 31, Rushi rated it it was ok. Edward Chancellor examines the nature of speculation–from medieval Europe to 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.

I enjoyed this history, but it can be dry, and at times is a bit overstuffed with names, unimportant details, and microbiographies.

I thought, why didn’t his editor do this But it looks to me that his own book chhancellor that it is endemic to the Free market system because of the above mentioned fundamental human failings. While there’s always a plethora of writings on current events and the latest thing, very few stand the test of time, and so I like reading from an historic perspective.

Stay in Touch Sign up. There is no point in blaming the Regulating authorities. On top of that, he name drops irrelevant vevil in financial history in an attempt to make the book more anecdotally sound, but does so in way that makes you feel like he doesn’t know anything about history except what’s in the journal entries of some obscure witness to a stock frenzy from way back in the day.

Jun 01, Pages Buy.