web site hit counter Extraordinary Popular Delusions and the Madness of Crowds/Confusión de Confusiones (Marketplace Book) - Ebooks PDF Online
Hot Best Seller

Extraordinary Popular Delusions and the Madness of Crowds/Confusión de Confusiones (Marketplace Book)

Availability: Ready to download

The Dutch East India Company was the hot stock to watch in the early days of the Amsterdam stock exchange. But the price action became hard to unravel once speculation and treacherous deceit came into play. Market manipulation, it seems, was a factor even at the dawn of modern exchange trading. Joseph de la Vega's 1688 Confusion de Confusiones offered a firsthand account o The Dutch East India Company was the hot stock to watch in the early days of the Amsterdam stock exchange. But the price action became hard to unravel once speculation and treacherous deceit came into play. Market manipulation, it seems, was a factor even at the dawn of modern exchange trading. Joseph de la Vega's 1688 Confusion de Confusiones offered a firsthand account of seventeenth-century market complexities that rings remarkably true even today. Exploring the sometimes humorous, sometimes devastating impact of crowd behavior and trading trickery on the financial markets, this book brilliantly combines two all-time investment classics. Financial analyst and author Martin S. Fridson is your guide, and the result is an insightful new volume that is a quirky, entertaining, and thoroughly intriguing journey back through time. From the investment strategies of Bernard Baruch, to Japanese land prices, junk bonds, and the collapse of Baring Securities, the far-reaching influence of Mackay's and de la Vega's revered works remains potent and truly timeless. By juxtaposing Extraordinary Popular Delusions and Confusion de Confusiones, this unique book points up the interesting contrast in their respective conclusions. Mackay believed that "periodic outbreaks of mass hysteria" led to volatile market activity, while de la Vega saw "cunning behind the market's convulsions." Both interpretations are worth examining for their fascinating commentaries on market movement and investment psychology. Viewed from within the context of events of our own time, these classics are must reading for all those seeking a greater understanding of the stock exchange's frequently erratic behavior.


Compare

The Dutch East India Company was the hot stock to watch in the early days of the Amsterdam stock exchange. But the price action became hard to unravel once speculation and treacherous deceit came into play. Market manipulation, it seems, was a factor even at the dawn of modern exchange trading. Joseph de la Vega's 1688 Confusion de Confusiones offered a firsthand account o The Dutch East India Company was the hot stock to watch in the early days of the Amsterdam stock exchange. But the price action became hard to unravel once speculation and treacherous deceit came into play. Market manipulation, it seems, was a factor even at the dawn of modern exchange trading. Joseph de la Vega's 1688 Confusion de Confusiones offered a firsthand account of seventeenth-century market complexities that rings remarkably true even today. Exploring the sometimes humorous, sometimes devastating impact of crowd behavior and trading trickery on the financial markets, this book brilliantly combines two all-time investment classics. Financial analyst and author Martin S. Fridson is your guide, and the result is an insightful new volume that is a quirky, entertaining, and thoroughly intriguing journey back through time. From the investment strategies of Bernard Baruch, to Japanese land prices, junk bonds, and the collapse of Baring Securities, the far-reaching influence of Mackay's and de la Vega's revered works remains potent and truly timeless. By juxtaposing Extraordinary Popular Delusions and Confusion de Confusiones, this unique book points up the interesting contrast in their respective conclusions. Mackay believed that "periodic outbreaks of mass hysteria" led to volatile market activity, while de la Vega saw "cunning behind the market's convulsions." Both interpretations are worth examining for their fascinating commentaries on market movement and investment psychology. Viewed from within the context of events of our own time, these classics are must reading for all those seeking a greater understanding of the stock exchange's frequently erratic behavior.

30 review for Extraordinary Popular Delusions and the Madness of Crowds/Confusión de Confusiones (Marketplace Book)

  1. 4 out of 5

    Darwin8u

    It is wise to enjoy that which is possible without hoping for the continuance of a favorable conjecture and the persistence of good luck." - Joseph de la Vega, Confusión de Confusiones. I work in finance and read a lot. Most people assume I read a bunch of business and finance books. Not really. Often, I think you learn more about leadership from history and more about people from poetry and fiction that you can ever find in a business or leadership book. But I've always wanted to read these two p It is wise to enjoy that which is possible without hoping for the continuance of a favorable conjecture and the persistence of good luck." - Joseph de la Vega, Confusión de Confusiones. I work in finance and read a lot. Most people assume I read a bunch of business and finance books. Not really. Often, I think you learn more about leadership from history and more about people from poetry and fiction that you can ever find in a business or leadership book. But I've always wanted to read these two pieces. Bernard Baruch was a huge fan of Mackay's "Extraordinary Popular Delusions and the Madness of Crowds" and both books seemed too damn perfect for this Bitcoin, market volatility moment. Without giving away the game, this book is actually two major pieces and a fantastic introduction: 1. Introduction to both works, with historical background, by Martin S. Fridson (probably one of the best known analysts in the high yield world). Fridson puts both books into historical and financial perspective and introduces both authors. 2. Extraordinary Popular Delusions and the Madness of Crowds (1841) by Charles Mackay is divided up into three case-studies: i. The Mississippi Scheme/John Law (1716-1720): Dealing with France during the era between Louis XIV and Louis XV (Duke of Orleans as regent) and Law's involvement in both paper money AND the French enthusiasm for the Mississippi Scheme. It details the rise and fall of both Law and how this financial disaster almost destroyed France (one could argue that it was a big contributor to the French Revolution). ii. The South Sea Bubble/Harley Earl of Oxford (1720): Deals with a similar bubble as the Mississippi Scheme, but was handled a bit differently and ended a bit neater. But again, Mackay details the same factors driving the stock prices up, and what eventually lead to the collapse of prices. iii. Tulipomania : Holland's experience with the Tulip bubble (1636-1637). Primarily in the Netherlands, but also to a lesser degree in England. Mackay details the mania and its spread, as well as the implications (legal and social) after its collapse. 3. Confusión de confusiones(1688) by Joseph de la Vega is a book, written originally in Spanish by a Portuguese Jew, published in Amsterdam. Like Mackay, De la Vega is at heart a poet, so the book contains Biblical allusions, mythology, etc., but focuses on the Amsterdam stock exchange, and looks primarily at the trading of shares of the East and West India Companies. It is amazing (AMAZING) to think that within a decade of the Dutch East India company being created, markets had already developed that would not just buy and sell shares, but options, futures, calls, puts. The market in the 1600s in Holland doesn't feel too different than the NY Stock Exchange or NASDAQ of today. It is hard to pick a favorite between these two. Both men had financial brains but the hearts of poets. I loved them. De la Vega sees more method in the madness of the markets, while MacKay sees the mass hysteria as the cause of crazy markets. Both men are probably correct to degrees. Both men are hugely influential in the way we think about the market, risk, speculation, and people. Just like I'd recommend poetry to financial analysts, but I'd recommend these financial books to poets. No one will be disappointed. I should add a part here about Gamestop. The book now seems incomplete.

  2. 4 out of 5

    Tom Lichtenberg

    Living in the twenty-four hour news cycle of today we all tend to be ever more ignorant of the past - we let the onrush of information slide on by as time and events are so much whitewater to navigate. Looking back, as through this nineteenth-century chronicle of historical mass hysterias, is to see the same patterns recurring continually throughout human history. Our current mortgage bubble is mirrored in many previous such respectable ponzi schemes. Our recent internet bubble is reflected in t Living in the twenty-four hour news cycle of today we all tend to be ever more ignorant of the past - we let the onrush of information slide on by as time and events are so much whitewater to navigate. Looking back, as through this nineteenth-century chronicle of historical mass hysterias, is to see the same patterns recurring continually throughout human history. Our current mortgage bubble is mirrored in many previous such respectable ponzi schemes. Our recent internet bubble is reflected in the story of the European tulip mania. Even our pop gurus find their counterparts in the mysterious Alchemists of old.

  3. 5 out of 5

    Cav

    I ended up with a copy of this, instead of the "Extraordinary Popular Delusions and the Madness of Crowds" I wanted to read. So it's not really what I was looking for. I decided to finish this, and then put "Extraordinary Delusions" on my 'to read' list for later. Martin S. Fridson takes the three case studies at the beginning of "Extraordinary Delusions" and reads them, and gives a long intro of, and then reads "Confusión de Confusiones". This book shows how the behaviour of men remains largely I ended up with a copy of this, instead of the "Extraordinary Popular Delusions and the Madness of Crowds" I wanted to read. So it's not really what I was looking for. I decided to finish this, and then put "Extraordinary Delusions" on my 'to read' list for later. Martin S. Fridson takes the three case studies at the beginning of "Extraordinary Delusions" and reads them, and gives a long intro of, and then reads "Confusión de Confusiones". This book shows how the behaviour of men remains largely the same now as it was then. The financial bubble has a long history. His telling of tulip mania was interesting, to that point. While the historical examples were interesting to learn about, I found the writing of this book struggling to hold my attention and interest. It is very dry and verbose.

  4. 5 out of 5

    ONUR DEMIRKILIC

    I enjoyed the "Popular Delusions and the Madness" part but did not like the Joseph De La Vega's part which is the second half of the book. Specially third dialog of that part.. That's why giving 3 stars. I enjoyed the "Popular Delusions and the Madness" part but did not like the Joseph De La Vega's part which is the second half of the book. Specially third dialog of that part.. That's why giving 3 stars.

  5. 4 out of 5

    Brian Fraus

    A great book about the history of how people (societies) create mass delusions. It was written hundreds of years ago, but lends itself to the thoughts of modern societies.

  6. 4 out of 5

    Gary Turner

    I really enjoyed reading this book. Amazing how things have not changed in 500 years.

  7. 5 out of 5

    Burak Mızrak

  8. 5 out of 5

    Mohamad Abdallah

  9. 5 out of 5

    Carlos

  10. 5 out of 5

    Baran Toppare

  11. 4 out of 5

    V R

  12. 5 out of 5

    John Huang

  13. 5 out of 5

    Gunner Laine Hardy

  14. 4 out of 5

    Bob Amburgey

  15. 5 out of 5

    Johahn

  16. 4 out of 5

    Lakshmanan

  17. 5 out of 5

    Robert Kettering

  18. 4 out of 5

    Türkay

  19. 4 out of 5

    Mark Rafn

  20. 5 out of 5

    Vishal Prasad

  21. 5 out of 5

    Josh

  22. 5 out of 5

    Joel

  23. 4 out of 5

    mistdew

  24. 5 out of 5

    Bob Croft

  25. 4 out of 5

    Ronald Killian

  26. 5 out of 5

    Michael

  27. 5 out of 5

    Tom

  28. 5 out of 5

    V

  29. 5 out of 5

    Ran

  30. 4 out of 5

    Yash Jalan

Add a review

Your email address will not be published. Required fields are marked *

Loading...
We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy.