Manias, panics, and crashes
"Manias, Panics, and Crashes probes the most recent natural disasters of the markets - from Black Monday to the Japanese boom and bust, from the sterling crisis and peso devaluation to the explosion in today's technology stocks.". "Kindleberger's writing leads the reader through a myriad of financial free falls. From the currency devaluation in the Holy Roman Empire in 1618, through the California gold rush of the 1840s and '50s to the crash of 1987, all the way up to the present day, his sharply drawn history confronts a host of key questions: In the ups and downs of market behavior, where is the line between rational and irrational? Are the markets a fool's paradise in an explosive world? When the storm expands to dangerous proportions, who will calm the panic? Should a "lender of last resort" intervene to repair the wreckage?" "Manias, Panics, and Crashes can be regarded as a warning or a proposition, reminding readers, in many ways, that what goes around comes around. Like all true classics, Kindleberger's book remains timely - for better or for worse."--BOOK JACKET.
Stats for nerds
11recommend
19mentions
15people
2010–2026years
74% recommend26% neutral
Mentions per year
What Hacker News says
- Manias, Panics, and Crashes by Charles Kindleberger is a more modern book, which I'd recommend as well.
- My outlook is pretty different from some of the sources you cite, but I like:
- Eurodollar University / Jeff Snider
- Robert Prechter, mostly for the understanding of money/credit and the fact that asset price movements are an endogenous process which drives headlines, not the other way around. Be careful of the permabear outlook and excessive Elliott Wave woo though.
- Financial histories (essential reading IMO): Galbraith's history of the 1929 crash, Jim Grant's stuff, Manias, Panics, and Crashes, Extraordinary Popular Delusions and the Madness of Crowds, etc
- Naked Capitalism blog
- Karl Marx and Henryk Grossman (the TRPF explains a lot of financial/investing phenomena like stock market cap as % of GDP rising over time)
- Podcasts: Market Huddle, Top Traders Unplugged
- Minyanville used to be a great source, any of the writers who used to be there are worth checking out.
- Panics, Manias and Crashes [1] tells a good story about him and his schemes.
[1] https://www.goodreads.com/book/show/367596.Manias_Panics_and...
- The Rise of Financial Capitalism: International Capital Markets in the Age of Reason (Studies in Monetary and Financial History) https://www.amazon.com/dp/0521457386/ref=cm_sw_r_cp_api_i_i-...
Manias, Panics, and Crashes: A History of Financial Crises, Seventh Edition https://www.amazon.com/dp/B017J5HBMS/ref=cm_sw_r_cp_api_r.pw...
Devil Take the Hindmost: A History of Financial Speculation https://www.amazon.com/dp/0452281806/ref=cm_sw_r_cp_api_i_.a...
A History of Interest Rates, Fourth Edition (Wiley Finance) https://www.amazon.com/dp/0471732834/ref=cm_sw_r_cp_api_i_-c...
A Splendid Exchange: How Trade Shaped the World https://www.amazon.com/dp/0802144160/ref=cm_sw_r_cp_api_i_Hg...
- Since I'm mainly interested in risk and volatility, this list might be a bit biased but here we go:
A random walk down Wallstreet
Options and volatility pricing, by Natenberg
Why stock markets crash, by Didier sornette
Manias, panics and Crashes by Aliber and Kindleberger
Debt: the first 5000 years
- More popular history:
https://www.amazon.com/Ascent-Money-Financial-History-World/...
https://www.amazon.com/Splendid-Exchange-Trade-Shaped-World/...
https://www.amazon.com/Cash-Nexus-Money-Modern-1700-2000/dp/...
https://www.amazon.com/Devil-Take-Hindmost-Financial-Specula...
Academic but readable:
https://www.amazon.com/Manias-Panics-Crashes-History-Financi...
https://www.amazon.com/Rise-Financial-Capitalism-Internation...
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