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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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Refresh and try again. I thought this was a great book.

Author identifies key causes – bubbles formed by financial or tech innovation, over extension of credit, belief that “it’s a different world” Great piece of financial history. However, Galbraith suggested that new regulators can step in every few years and bring on new rules so that speculators do not have enough time to exploit the previous set of rules and bring on a crash.

Devil Take the Hindmost : A History of Financial Speculation

The complexity of financial schemes as early as the s was particularly eye-opening. There are some who will refuse to read this book after finding the first favorable quotation of Keynes, but they’re depriving themselves of some interesting history. If it is a chore for me to read, it means the author wrote poorly. A edwxrd fellow, who like to hear himself talk. The story repeats in history following the same pattern. As t In some sense, this book is more about the great human failings of Greed, ‘Follow the Leader’ mentality, Fear and Panic – all told through examples chabcellor the history of the stock market.


Mar 02, Maximus rated it really liked it Shelves: Dec 27, Andy M rated it it was amazing Shelves: Farrar, Straus and Giroux. This book turned out to fit well into the history category – if you’re looking for advanced financial analysis you won’t find it here, although the author clearly hindmoost what he’s talking about.


I also appreciated his attention to detail. By clicking on “Submit” you agree that you have read and agree to the Privacy Policy and Terms of Service. I am thoroughly disappointed in this devll.

In the early s he worked for the investment bank Lazard Brothers. Edward Chancellor examines the nature of speculation–from medieval Europe to the Tulip mania of the s to today’s Internet stock craze. In order to set up a chanfellor of libraries that you have access to, you must first login or sign up.

Subjects Speculation — History. Around mile 12 on the way up from the riverI found it hindmozt difficult to keep the same thought for more than 20 seconds.

Devil Take the Hindmost : Edward Chancellor :

I love the subject matter. Want to Read saving…. For example, in one sentence I removed two prepositional phrases and made the sentence have active tthe. Only criticism is that it’s very very dense, not an easy read. 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. Chancellor opens his financial adventure story with a rational and articulate description of speculation, then along the way introduces ever-more- convoluted investment hindmostt and practices, accompanied by articulate descriptions of terms.

No amount of regulation will be able to stop Speculation. Jul 02, Tyler rated it really liked it. About Devil Take the Hindmost Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? The Origins of Financial Speculation 2.

It’s also unfortunate that Chancellor missed two of the most significant and two very different speculative bubbles through the timing of his work. To read it as a book on Speculation alone would be missing the point to some extent.


How has the psychology of investing changed—and not changed—over the last five hundred years? Open Preview See a Problem? Goodreads helps you keep track of books you want to read. It’s a good blend of stories, some data, and reflection and analysis cited from contemporaneous sources as well as the author’s own ones. The book is not a fast paced read. One of the finest is Devil Take the Hindmost. Want to Read Currently Reading Read. The book offers examples of these. I particularly enjoyed the chapter on Japan in the late chamcellor and early cancellor.

The author links the madness of financial speculation to Bakhtin’s notion of the carnivalesque, pointing out that in the middle ages, it was during fairs and carnivals that laws barring financial speculation were suspended.

Even without adding the financial collapse ofthe impacts of the speculative frenzies documented here seem, if anything, to be growing. That markets are beneficial and usually clear, sure, but Chancellor, an ex-banker, gives many examples of ways in which irrationality, group madness, and outright manipulation undermine the price mechanism and lead to financial bubbles, often with disastrous consequences.

Login to add to list. The author sums up his own book in a couple of salient quotes: Comments and reviews What are comments? LitFlash The eBooks you want at the lowest prices. How has the psychology of investing changed–and not changed–over the last five hundred years?