false http://photo.goodreads.com/books/1171228363m/91360.jpg 91360 3 "The longest bull market in history" is a term that gets used a lot these days. Since 1990, the Dow Jones Industrial Average has risen some 8,000 points, from around 2,700 in January 1990 to nearly 11,000 today--a boom by anyone's standards, including Edward Chancellor's. In <I>Devil Take the Hindmost</I>, Chancellor takes an entertaining, albeit sobering, look at the history of speculative manias and the mass delusion that surrounds them.<p> Beginning with the "tulipomania" that gripped Holland in the 1630s, Chancellor chronicles the formations and irrational euphoria that can inflate markets, from shares of South Sea stock in England in the 1720s to real estate in Japan in the late 1980s. He characterizes the speculative spirit as one that <blockquote>loves freedom, detests cant, and abhors restrictions. From the tulip Colleges of the seventeenth century to the Internet investment clubs of the late twentieth century, speculation has established itself as the most demotic of economic activities. Although profoundly secular, speculation is not simply about greed. The essence of speculation remains a Utopian yearning for freedom and equality which counterbalances the drab rationalistic materialism of the modern economic system with its inevitable inequalities of wealth.</blockquote> But it's precisely such inevitability that always seems to win out, when "sharply rising prices followed by sudden panic without cause" bring speculative excess to an abrupt end.<p> Chancellor makes <i>Devil Take the Hindmost</i> especially relevant to today's U.S. investors by using his analysis of past speculative manias as a lens through which to view the current bull-market binge. No matter what his or her current investment outlook is--bull or bear--anyone with capital to invest would do well to spend a thoughtful weekend with this book. Highly recommended. <I>--Harry C. Edwards</I> 88152 1996 Devil Take the Hindmost: A History of Financial Speculation total:57|5:14|4:18|3:23|2:1|1:1| 57 214 123 10 4 0 false false Sun Mar 01 00:00:00 -0800 2009 Tue Oct 06 19:32:20 -0700 2009 Tue Oct 06 19:35:23 -0700 2009 more...]]> 5 0 false false Fri Aug 01 00:00:00 -0700 2003 Sat Jan 03 02:28:03 -0800 2009 Sat Jan 03 02:29:53 -0800 2009
you discovered very interesting economic history from Tulipomania through the era of Clinton economic downfall.

Reading this, and compared to what happened in current global downfall. You...more...]]> 4 0 false false Mon Apr 07 00:00:00 -0700 2008 Wed Mar 26 08:44:50 -0700 2008 Wed Mar 26 08:45:00 -0700 2008 more...]]> 0 0 false false Sun Jan 01 00:00:00 -0800 2006 Tue May 12 19:46:20 -0700 2009 Tue May 12 19:47:26 -0700 2009 3 0 false false Fri Jun 01 00:00:00 -0700 2007 Fri Aug 31 13:20:06 -0700 2007 Fri Aug 31 13:26:26 -0700 2007 more...]]> 3 0 false false Fri Feb 27 00:00:00 -0800 2009 Mon Feb 02 11:17:31 -0800 2009 Fri Feb 27 17:28:27 -0800 2009 4 0 false false Sat May 31 15:05:40 -0700 2008 Sat May 31 15:08:31 -0700 2008 5 0 false false Tue Oct 02 10:26:17 -0700 2007 Tue Oct 02 10:26:22 -0700 2007 4 0 false false Sun Aug 17 21:09:07 -0700 2008 Sun Aug 17 21:09:33 -0700 2008 3 0 false false Mon Jun 30 14:14:32 -0700 2008 Mon Jun 30 14:15:01 -0700 2008 0 0 false false Wed Nov 18 19:24:16 -0800 2009 Wed Nov 18 19:24:16 -0800 2009 0 0 false false Mon Nov 16 16:01:16 -0800 2009 Mon Nov 16 21:02:56 -0800 2009 0 0 false false Sun Nov 08 11:06:22 -0800 2009 Sun Nov 08 11:06:22 -0800 2009 0 0 false false Sun Oct 25 16:33:50 -0700 2009 Sun Oct 25 16:33:53 -0700 2009 3 0 false false Wed Oct 07 06:02:57 -0700 2009 Wed Oct 07 06:02:57 -0700 2009 4 0 false false Wed Sep 23 17:23:38 -0700 2009 Wed Sep 23 17:23:55 -0700 2009 0 0 false false Fri Sep 18 12:33:40 -0700 2009 Fri Sep 18 12:33:40 -0700 2009 0 0 false false Fri Sep 18 12:27:01 -0700 2009 Fri Sep 18 12:27:01 -0700 2009 4 0 false false Tue Jan 01 00:00:00 -0800 2002 Wed Sep 16 10:15:07 -0700 2009 Wed Sep 16 10:15:07 -0700 2009 0 0 false false Tue Sep 08 08:39:19 -0700 2009 Tue Sep 08 08:39:19 -0700 2009 http://www.goodreads.com/book_link/follow/8?book_id=91360