Devil Take The Hindmost: A History of Financial Speculation by Edward Chancellor

Devil Take The Hindmost: A History of Financial Speculation

byEdward Chancellor

Paperback | June 1, 2000

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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 psychology of investing changed--and not changed--over the last five hundred years? Edward Chancellor examines the nature of speculation--from medieval Europe to the Tulip mania of the 1630s to today's Internet stock craze. A contributing writer to The Financial Times and The Economist, looks at both the psychological and economic forces that drive people to "bet" their money in markets; how markets are made, unmade, and manipulated; and who wins when speculation runs rampant. Drawing colorfully on the words of such speculators as Sir Isaac Newton, Daniel Defoe, Ivan Boesky, and Hillary Rodham Clinton, Devil Take the Hindmost is part history, part social science, and purely illuminating: an erudite and hugely entertaining book that is more timely today than ever before.

About The Author

Edward Chancellor studied history in Great Britain at both Cambridge and Oxford Universities. In the early 1990s he worked for the investment bank Lazard Brothers. He is a freelance journalist, and lives in London.

Details & Specs

Title:Devil Take The Hindmost: A History of Financial SpeculationFormat:PaperbackDimensions:400 pages, 9 × 6 × 1 inPublished:June 1, 2000Publisher:Penguin Publishing GroupLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0452281806

ISBN - 13:9780452281806

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Table of Contents

Preface: Devil Take the Hindmost

1. "This Bubble World": The Origins of Financial Speculation
2. Stockjobbing in 'Change Alley: The Projecting Age of the 1690s
3. "The Never-to-Be-Forgot or Forgiven South-Sea Scheme"
4. Fool's Gold: The Emerging Markets of the 1820s
5. "A Ready Communication": The Railway Mania of 1845
6. "Befooled, Bewitched and Bedeviled": Speculation in the Gilded Age
7. The End of a New Era: The Crash of 1929 and Its Aftermath
8. Cowboy Capitalism: From Bretton Woods to Michael Milken
9. Kamikaze Capitalism: The Japanese Bubble Economy of the 1980s

Epilogue: The Case of the Rogue Economists

Notes
For Further Reference
Acknowledgments
Index

From Our Editors

Financial speculators play a dangerous game with sometimes miraculous and or devastating results. Devil Take the Hindmost by former investment banker Edward Chancellor is part history and part social science and it looks the nature of speculation from medieval times through to the present Internet stock craze. Chancellor examines both the psychological and economic forces that drive people to ‘bet’ their hard earned money in the volatile speculative markets. Drawing on commentary form such notable speculators such as Sir Isaac Newton, Ivan Boesky and Hilary Rodham Clinton this text is more timely today than ever before.

Editorial Reviews

“The subtle ways in which individual investors become drawn into crowd behavior is a much studied phenomenon, covered brilliantly… in the book Devil Take the Hindmost.”—The Daily Telegraph (London) “The South Sea Company is one of the great bubble and crash stories. Many books have referred to it. One of the finest is Devil Take the Hindmost.”—Debashis Basu, Money Life “Excellent.”—City A.M. “[An] essential history of financial manias.”—The Observer “A lively history of speculative manias and bubbles by a British banker turned writer.”—Susan Adams, Forbes