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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Edward Chancelpor examines the nature of speculation–from medieval Europe to the Tulip mania of the s to today’s Internet stock craze. A compelling and balanced view of financial speculation that leads to the reasonable conclusion that the overextension of credit is the cause of financial instability.

Contents “This bubble world”: May 07, George Jankovic rated it it was amazing.

Devil Take the Hindmost

Many books have referred to it. Dec 05, J added it Shelves: Yet there are more kinds of bubbles than merely the pumping and dumping of common stock.

I enjoyed this history, but it can be dry, and at times is a bit overstuffed with names, unimportant details, and microbiographies. How has the psychology of investing changed—and not changed—over the last five hundred years?

A pompous fellow, who like to hear himself talk. Once I realized the poor writing style was too blame for my headaches after 20 minutes chancellr reading, I started self-editing the passages.

This strikes me as a more realistic assessment than those offered by free marked ideologues or quasi-messianic market regulators. Oct 13, Allen rated it really liked dsvil.

I am thoroughly disappointed in this book. Language English View all editions Prev Next edition 4 of 4. Governments play a role in some of the early speculative bubbles most notably the South Sea bubblebut Chancellor’s topic is private speculative frenzies, not the risks and effects of government borrowing. Devol were hake to find this edition in any bookshop we are able to search.


How has the psychology of investing changed–and not changed–over the last five hundred years? Around mile 12 on the way up from the riverI found it extremely difficult to keep the same thought for more than 20 seconds.

Devil Take the Hindmost: A History of Financial Speculation

dsvil Each week, our editors select the one author and one book they believe to be most worthy of your attention and highlight them in our Pro Connect email alert. Other editions – View all Devil Take the Hindmost: It is difficult for me to imagine someone reading this book and remaining a true believer in the “efficient market hypothesis” the notion that the price of a security at any given time reflects all the available information and only responds to new information rather than the “mood” of the market or manipulations of speculators.

This book examines the attitudes, personalities, and policies behind major historic market bubbles from Dutch tulips to the Japanese economy of the s. Speculation, as cancellor here, is more akin to a force of nature than, as seen in most other books on the topic, a phenomenon of greed that should be limited or prevented.

I read a lot. There is no recommendation here for any regulatory or legal action, but it’s obvious from the repetition of history that limiting leverage would be the place to focus attention. The history he presents is one of speculative manias adapting to and circumventing every control that governments and markets have attempted to place on them. Subjects Speculation — History. Devil Take the Hindmost: If it is a chore for me to read, it means the author wrote poorly.


The author doesn’t provide relevant information that is useful to the context of each chapter.

In the next chapter, he said Japanese regulators actually encouraged and promoted fraudulent accounting. In the early s he worked for the investment bank Lazard Brothers.

Public Private login e. I picked up this book because I’m interested in everything that concerns investing and speculation.

There is a ton of history Holy moly this book has a lot of information. Similarly, I found myself trying to get into what Chancellor was writing, only to find myself skimming as fast ths I could 20 seconds hincmost. Trivia About Devil Take the Hi There was a problem adding your email address.

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.

Devil Take the Hindmost by Edward Chancellor | : Books

Feb 11, Noah Goats rated it really liked it. His personal beliefs and views are seen throughout the book which can get annoying. Looking for More Great Reads? This book details various financial disasters brought about by the human propensity to think “This time it’s different! I kept trying to be interested, but then started skimming and praying the chapter would soon have a point or end. Edvar someone who doesn’t like reading fiction, this is the kind of book that still can provide a truly enjoyable read.

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