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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Holy moly this book has a lot of information. Language English View all editions Prev Next edition 4 of 4.

Devil Take the Hindmost : Edward Chancellor :

In the early s he worked for the investment bank Lazard Brothers. 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. 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: Whether it’s “this time is different”, corrupt politicians, or the madness of the crowd, bubbles have been there and will continue to be.

Now I am called a banker. Lists What are lists? 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. Chancellor’s book brings to light many incidents that point to a pattern that seems to repeat.


Overall a very interesting read. Be the first to ask a question about Devil Take the Hindmost. Chancellor does not set out to explain how to curb financial speculation. 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. Overall, the content is really, cbancellor in-depth.


Add a tag Cancel Hindmlst the first to add a tag for this edition. Once I realized the poor writing style was too blame for my headaches after 20 minutes of reading, I started self-editing the passages. 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. These online bookshops told us they have this item: A True Vegas Tale.

Written inseems like not too many people have read it before technology bubble or crash On top of that, he name drops irrelevant people 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 hind,ost way back in the day.

Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? 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 Ddvil goes back.

Is your investment chxncellor that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? It’s also unfortunate that Chancellor missed two of the most significant and two very different speculative bubbles through the timing of his work.

Chancellor is exclusively focused on private markets, usually stock markets, and apart from the chapter on Japan Western markets, mostly in the US and the UK. What makes this book so good is the way it explains financial history, mainly through anecdotes. He is a freelance journalist, and lives dhancellor London.


A contributing writer to The Financial Times and The Economist takr, looks at both the psychological and economic chancellot that drive people to “bet” their money in markets; how markets are made, unmade, and manipulated; and who wins when speculation runs rampant. Table Of Contents Preface: Mar 02, Maximus rated it really liked it Shelves: As the scale of my operations increased, I was called a Speculator.

It’s unfortunate, lots of gems, but too rough. Devil Take the Hindmost 1.

Devil Take the Hindmost : A History of Financial Speculation

Home All editions This editionEnglish, Book edition: There is a ton of history about the stock markets going back to Tulip Mania in the 17th century. Feb 11, Noah Goats rated it really liked it.

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Extremely deeply researched and full of interesting details. The mechanism keeps changing, from straightforward loans during the tulip craze to much more complex constructions in modern finance, primarily in response to regulation that attempted to reduce leverage but only banned one specific technique.

Interrogation of the role of government is mostly limited to cursory discussions of the impact of regulation, mostly in the negative. That means it predates both the subprime real estate collapse and the dot. In fact, I’ve listened to multiple Grant William’s podcasts where he has described episodes from the book e.

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