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Once in Golconda: A True Drama of Wall Street 1920-1938
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Once in Golconda: A True Drama of Wall Street 1920-1938

4.03  ·  Rating details ·  238 ratings  ·  15 reviews
Once in Golconda "In this book, John Brooks-who was one of the most elegant of all business writers-perfectly catches the flavor of one of history's best-known financial dramas: the 1929 crash and its aftershocks. It's packed with parallels and parables for the modern reader." -From the Foreword by Richard Lambert Editor-in-Chief, The Financial Times Once in Golconda is a ...more
Hardcover, 307 pages
Published September 21st 1999 by Wiley (first published 1972)
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Brad Gillespie
Jun 07, 2015 rated it it was amazing
If you're a professional investor or just working with your retirement accounts, history can be key to better results. This audiobook or book clarified the 1920s and 30s and helped me understand current regulations based on how they came about. Warren Buffett had this book on his recommended list at this year's Berkshire Hathaway annual meeting.
Joel Gray
Mar 03, 2019 rated it liked it

In the fall of 1921 the post war depression ended and a new and more durable boom replaced it.

The Fed reduced the discount rate from 7% in 21 to 3% by 24. Such a dramatic reduction promoted general expansion, risk-taking, speculation and reckless spending. US Treasury also started reducing corporate tax rates.

Business was aided by the spread of the automobile. In almost most
Jun 19, 2019 rated it liked it
More memoir than how to
Jun 22, 2019 rated it really liked it  ·  review of another edition
Great history

Some tedious parts to it but overall John Brooks gives you a great inside look at the times. Worth reading
Balloon Bruce
Jul 08, 2017 rated it did not like it
Jul 01, 2017 rated it it was amazing
Shelves: 1920s-history
I was surprised by how intensely readable this was. Definitely popularized rather than scholarly - a really easy, informative read.
For those who, like me, are not familiar with Golconda, the title is a reference to a mythological city in India where everyone who passed through it got rich. After reading this, I decided it was a most apropos title. A somewhat different treatment of the stock market crash of 1929, Once in Golconda deals mainly with the men who were involved, both in the build up and the crash. Many of the names are familiar and, even famous or infamous, J.P Morgan and his partner Thomas Lamont, Averill ...more
Oct 26, 2014 rated it really liked it
Shelves: finance-money
Here's an account of Wall Street's transformation from the 1920s when the NYSE & al. was a de facto financial club for the wealthy to 1938's populist-leaning market. The narrative centers on Richard Whitney, an Old Guard stalwart who was chosen by his peers to be president of the exchange. Whitney's personal investments, like nearly everyone else's, took a drubbing as the Great Depression followed the Market Crash of 1929 and this work is to a great degree the story of Whitney's ...more
May 18, 2008 rated it really liked it
There is a lot of talk today about whether various market require further regulation to be safe for investors (hedge funds, mortgage lenders, Sarbanes-Oxley). This book focuses on the market, and particularly the New York Stock Exchange, in the days prior to the Securities Acts that set up, among other things, the SEC. It is enlightening how free-wheeling things were, particularly prior to the market crash in 1929. Stock manipulation was commonly practiced by many market participants, but the ...more
Mar 24, 2008 marked it as to-read
With all the talk of stagflation, recession, etc... figured this might be a timely read...
Jun 01, 2016 rated it it was amazing
I may even prefer this to Galbraith's "The Great Crash."
Michael Benidt
Dec 01, 2008 rated it it was amazing
A chilling read because the The Twenties and early Thirties are so similar to today's economic troubles. All the more chilling because the book was written in 1969. Fluid writing, captivating.
Oct 15, 2008 rated it really liked it
This gives a great background and insight into how the stock market began. It's a pretty technical book, but good.
Nov 06, 2014 rated it liked it
Shelves: history
An indebt look at what happened and why the Great Depresion occured.
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Feb 09, 2015 rated it it was amazing
I realize I'm naive but this history is truly shocking.
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John Brooks (19201993) was an award-winning writer best known for his contributions to the New Yorker as a financial journalist. He was also the author of ten nonfiction books on business and finance, a number of which were critically acclaimed works examining Wall Street and the corporate world. His books Once inGolconda, The Go-Go Years, and Business Adventures have endured as classics. Although ...more

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