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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Income Streams that Never Go Down. Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? The lessons of speculative mania are clearly a warning to speclation bulls, but they hold an important message for bears too: Would you like to tell us about a lower price? Apr 23, Raghu rated it it was ok.

The Crash of and Its Aftermath 8. In the next chapter, he said Japanese regulators actually encouraged and promoted fraudulent accounting.

A pompous fellow, who like to hear himself talk. This history of financial speculation is an interesting look at one of the many negative aspects of human nature.

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. For example, in one sentence I removed two prepositional phrases and made the sentence have active voice.


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 most expensive words in the English language are ‘this time it’s different. 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. How has the psychology of investing changed—and not changed—over the last five hundred years?

Devil Take the Hindmost : Edward Chancellor :

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. That markets are beneficial and usually clear, sure, but Chancellor, an ex-banker, gives many examples of ways in tke irrationality, group madness, and outright manipulation undermine the price mechanism and lead to financial bubbles, often with disastrous consequences.

There’s just one catch Trivia About Devil Take the Hi Customers who viewed this item also viewed.

With that being said, this is a financial speculation history book. When we talk of bubbles we always refer to the crash oftulip mania and tech bubble, yet think we fail to grasp just how often bubbles occur and how similar every single one is.

Jul 04, Ryan rated it it was amazing. There’s a problem loading this menu right now. There is a ton of history about the stock markets going back to Tulip Mania in the 17th century. About Devil Take the Hindmost Is your investment in that new Internet stock a sign of stock taek savvy or an act of peculiarly American speculative folly? Further evoking China, Chancellor observed of the Financisl bubble that “speculative mania is often a symptom of hubris,” with great manias tending to occur “when the economic balance of power is shifting from one nation to another.


Extremely deeply researched and full of interesting details.

Withoutabox Hitsory to Film Festivals. Three main lessons for me: How has the psychology of investing changed–and not changed–over the last five hundred years? That is not the case.

Devil Take the Hindmost: A History of Financial Speculation

Paperbackpages. So, it is not in their interest to rein in Wall Street. The second part of the title itself might deter a lot of readers, but it’s only a general hint about the book’s contents.

Goodreads helps you keep track of books you want to read. Oct 18, Barry Bridges rated it it histoty amazing.