Popular Financial Delusions

Author: Robert Lincoln Smitley

Publisher: Martino Fine Books

ISBN: 1614271305

Category: Business & Economics

Page: 350

View: 535

2011 Reprint of 1933 Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. Smitley wrote "Popular Financial Delusions" in 1933, when the world was in the depths of the Great Depression. He had started out on the New York Stock Exchange, but gave it up to buy a bookshop on Wall Street, and he became an expert. Better still, he understood markets--and he had a bigger collection of pithy phrases than the "Oxford Dictionary of Quotations." The book is a collection of about 70 sections, each of which stands on its own. None has any reverence for the sacred cows of the investment world. From the investment trust to the mortgage, to the pension, bank deposit and - yes - even Gold; one after the other Smitley skillfully slices them up, and shows them for what they so often are." Review by Paul Tustain.
Extraordinary Popular Delusions and the Madness of Crowds and Confusión de Confusiones

Author: Martin S. Fridson

Publisher: John Wiley & Sons

ISBN: 0471133124

Category: Business & Economics

Page: 226

View: 140

"The market never ceases to befuddle and beguile. These twovenerable works are fixtures on the short lists for most valuablebooks on the securities markets, and investors continue to cherishthem." -From the Introduction by Martin S. Fridson ManagingDirector, Merrill Lynch & Co. Author of InvestmentIllusions Exploring the sometimes hilarious, sometimes devastating impact ofcrowd behavior and trading trickery on the financial markets, thisbook brilliantly combines two all-time investment classics.Extraordinary Popular Delusions and Confusión de Confusionestake us from Tulipmania in 1634-when tulips actually traded at ahigher price than gold-to the South Sea "bubble" of 1720, andbeyond. Securities analyst and author Martin Fridson guides you ona quirky, entertaining, and intriguing journey back throughtime. Chosen by the Financial Times as Two of the Ten Best Books EverWritten on Investment Critical Praise . . . "This is the most important book ever written about crowdpsychology and, by extension, about financial markets. A seriousstudent of the markets and even anyone interested in the extremesof human behavior should read this book!" -Ron Insana, CNBC "In combining 'Extraordinary' with 'Confusion,' the result is notextraordinary confusion. Instead, with clarity, the book sears intomodern investor minds the dangers of following the crowd." -GregHeberlein, The Seattle Times "You will see between its staid lines (written in ye olde Englishand as ponderable as Buddha's navel) that, despite what the mediasays, nothing really important has changed in the financial marketsin centuries." -Kenneth L. Fisher, Forbes
Extraordinary Popular Delusions and the Madness of Crowds (Harriman Definitive Edition)

Author: Charles Mackay


ISBN: 9780857197429

Category: Business & Economics

Page: 0

View: 739

Charles MacKay's groundbreaking examination of a staggering variety of popular delusions, crazes and mass follies is presented here in full with no abridgements. The text concentrates on a wide variety of phenomena which had occurred over the centuries prior to this book's publication in 1841. Mackay begins by examining economic bubbles, such as the infamous Tulipomania, wherein Dutch tulips rocketed in value amid claims they could be substituted for actual currency. As we progress further, the scope of the book broadens into several more exotic fields of mass self-deception. Mackay turns his attention to the witch hunts of the 17th and 18th centuries, the practice of alchemy, the phenomena of haunted houses, the vast and varied practices of fortune telling and the search for the philosopher's stone, to name but a handful of subjects. Today, Extraordinary Popular Delusions and The Madness of Crowds is distinguished as an expansive, well-researched and somewhat eccentric work of social history.
Extraordinary Popular Delusions

Author: Charles Mackay

Publisher: Templeton Foundation Press

ISBN: 9781890151409

Category: Business & Economics

Page: 765

View: 998

This work studies the psychology of crowds and mass mania throughout history, including accounts of classic scams, grand-scale madness and deceptions. Some of these include the Mississippi scheme that swept France in 1720 and the South Sea Bubble that ruined thousands in England at the same time.
Memoirs of Extraordinary Popular Delusions and the Madness of Crowds

Author: Charles MacKay

Publisher: Cosimo, Inc.

ISBN: 9781605205458

Category: History

Page: 732

View: 225

In reading the history of nations, we find that, like individuals, they have their whims and their peculiarities; their seasons of excitement and recklessness, when they care not what they do. We find that whole communities suddenly fix their minds upon one object, and go mad in its pursuit... -from the Preface The satanic child-abuse mania of the 1980s. The dotcom craze of the 1990s. The housing bubble of the 2000s. It may seem like we today invented mass insanity, but it's always been with us, as this classic expose of the madness of humanity demonstrates in a way that's both disturbing and highly entertaining. First published in 1841 across multiple volumes but presented here in one omnibus volume, this enlightening work explores such societal delusions and aberrations as: [ the Mississippi Scheme, in which an 18th-century Scottish financier created a stock bubble in France for land in the New World [ the infamous tulip mania that seized Holland in the 1600s [ the grip that alchemists, with their claims of turning lead to gold, held over the European imagination during the Enlightenment [ the centuries-long Crusades of the Middle Ages [ the witch hunts that plagued both sides of the Atlantic in the 17th, 18th, and early 19th centuries [ and many more. A powerful study of human psychology on a cultural scale, this important work is startlingly relevant today... as it's sure to still be centuries from now. Scottish journalist CHARLES MACKAY (1814-1889) held an honorary law degree from Glasgow University, as well as a doctorate in literature. A renowned poet and songwriter, he also authored a Dictionary of Lowland Scotch.
Don't Fall For It

Author: Ben Carlson

Publisher: John Wiley & Sons

ISBN: 9781119605188

Category: Business & Economics

Page: 192

View: 654

Learn financial and business lessons from some of the biggest frauds in history Why does financial fraud persist? History is full of sensational financial frauds and scams. Enron was forced to declare bankruptcy after allegations of massive accounting fraud, wiping out $78 billion in stock market value. Bernie Madoff, the largest individual fraudster in history, built a $65 billion Ponzi scheme that ultimately resulted in his being sentenced to 150 years in prison. People from all walks of life have been scammed out of their money: French and British nobility looking to get rich quickly, farmers looking for a miracle cure for their health ailments, several professional athletes, and some of Hollywood’s biggest stars. No one is immune from getting deceived when money is involved. Don’t Fall For It is a fascinating look into some of the biggest financial frauds and scams ever. This compelling book explores specific instances of financial fraud as well as some of the most successful charlatans and hucksters of all-time. Sharing lessons that apply to business, money management, and investing, author Ben Carlson answers questions such as: Why do even the most intelligent among us get taken advantage of in financial scams? What make fraudsters successful? Why is it often harder to stay rich than to get rich? Each chapter in examines different frauds, perpetrators, or victims of scams. These real-life stories include anecdotes about how these frauds were carried out and discussions of what can be learned from these events. This engaging book: Explores the business and financial lessons drawn from some of history’s biggest frauds Describes the conditions under which fraud tends to work best Explains how people can avoid being scammed out of their money Suggests practical steps to reduce financial fraud in the future Don’t Fall For It: A Short History of Financial Scams is filled with engrossing real-life stories and valuable insights, written for finance professionals, investors, and general interest readers alike.
Dean LeBaron's Treasury of Investment Wisdom

Author: Dean LeBaron

Publisher: John Wiley & Sons

ISBN: 9780471233428

Category: Business & Economics

Page: 323

View: 398

Dean LeBaron's Treasury of Investment Wisdom Today, investors are faced with an information overload when it comes to investment opportunities. It's hard to find straight answers on which investment vehicles are the best, which ones will last, and what opportunities truly suit your needs. Dean LeBaron's Treasury of Investment Wisdom easily answers all these questions for you. This comprehensive guide to the world's greatest investment ideas and thinkers gives you everything you need to understand today's complex and exciting investment landscape. "There have been other books on investment gurus, but none as complete nor as entertaining as this one. Dean LeBaron has produced an enlightening, thorough, and thought-provoking compendium of the thinking of many of the nation's investment professionals. It covers all the major investment styles and vehicles, from active portfolio management to venture capital, and offers theoretical insights into everything from behavioral finance to market efficiency, providing point and counterpoint. It's a must read." -Michael J. Clowes, editorial director, Pensions & Investments and Investment News and author of The Money Flood: How Pension Funds Revolutionized Investing Filled with commentaries and opinions on a wide range of must-know investment issues, Dean LeBaron's Treasury of Investment Wisdom is your guide to a profitable investing future. Take your investment knowledge to the next level with one-of-a-kind insights that have made the best investors in the world what they are today.
A Decade of Delusions

Author: Frank K. Martin

Publisher: John Wiley & Sons

ISBN: 9781118078167

Category: Business & Economics

Page: 480

View: 418

The proven strategies rational investors require for success in an irrational market When the dot-com and real estate bubbles of the 1990s and 2000s burst, few were spared the financial fallout. So, how did an investment advisory firm located in Elkhart, Indiana—one of the cities hit hardest by the economic downturns—not only survive, but also thrive during the highly contagious speculative pandemics. By remaining rational. In A Decade of Delusions: From Speculative Contagion to the Great Recession, Frank Martin founder of Elkhart, Indiana's Martin Capital Management offers a riveting and real-time insider's look at the two bubbles, and reflects on how investors can remain rational even when markets are anything but. Outlines strategies the average investor can use to wade through the endless news, information, and investment advice that bombards them Describes the epidemic of market speculation that gradually infects feverish investors Details how investors can spare themselves the emotional devastation and accompanying paralysis resulting from shocking financial losses Investors are still reeling from the instability in the market. A Decade of Delusions: From Speculative Contagion to the Great Recession provides the information investors need to achieve safety, liquidity, and yield.
Extraordinary Popular Delusions, the Money Mani

Author: Charles MacKay

Publisher: Cosimo, Inc.

ISBN: 9781605205489

Category: History

Page: 108

View: 969

The finances of the country were in a state of the utmost disorder. A profuse and corrupt monarch, whose profuseness and corruption were imitated by almost every functionary, from the highest to the lowest grade, had brought France to the verge of ruin. The national debt amounted to 3000 millions of livres, the revenue to 145 millions, and the expenses of government to 142 millions per annum: leaving only three millions to pay the interest upon 3000 millions. -from "The Mississippi Scheme" The savings-and-loan scandals of the 1980s. The dotcom craze of the 1990s. The housing bubble of the 2000s. It may seem as if mass financial insanity is a result of complex global economies and modern high finance, but it's been with us for centuries, as this classic expose of the madness of humanity-particularly as it relates to money-demonstrates in a way that's both disturbing and highly illuminating for those wishing to avoid getting lost in such madness again. This abridged edition of the 1841 classic focuses exclusively on the infamous financial mania that have become bywords when discussing the economic collapses of today: [ the Mississippi Scheme, in which an 18th-century Scottish financier created a stock bubble in France for land in the New World [ the South Sea bubble, the 18th-century stock swindle sometimes called "the Enron of England" [ the infamous tulip mania that seized Holland in the 1600s These powerful studies of the human relationship to money remain startlingly relevant today... as they are sure to still be centuries from now. Scottish journalist CHARLES MACKAY (1814-1889) held an honorary law degree from Glasgow University, as well as a doctorate in literature. A renowned poet and songwriter, he also authored a Dictionary of Lowland Scotch.
Charles Mackay's Extraordinary Popular Delusions and The Madness of Crowds

Author: Tim Phillips

Publisher: Infinite Ideas

ISBN: 9781905940912

Category: Business & Economics

Page: 120

View: 190

Based on the 1841 market psychology, describing famousfinancial 'bubbles', including the infamous Dutch tulipmania and the South Sea Company bubble, this titlepresents an interpretation of Charles Mackay's work thatillustrates the nature of these insights through modernbusiness and political case studies.