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Extraordinary Popular Delusions and the Madness of Crowds and Confusión de Confusiones
By: De La Vega, Joseph; Fridson, Martin S.; Mackay, Charles; Fridson, Martin; Marketplace Books (cor), Marketplace Books (cor); Martin, Fridson,; S., Fridson, Martin

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Item #: 2112
Pages: 224
Publisher: John Wiley & Sons
ISBN: 0471133094
Type: Book - Hard Cover
Publish Date : 12/28/1995
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Synopsis:
Featured on most "top 10" list of best all-time investment books, this classic explores the impact of crowd behavior, manias and trading trickery in the markets. Today's investor will be shocked by the historic parallels between markets of the 1800s and today's events like the mutual fund mania, junk bond scandals and collapse of Baring Securities.

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Jacket Description:
Priceless investment wisdom from two timeless classics Can you imagine tulips trading at a higher price than gold? That’s just what happened in 1634 as Tulipmania swept across Holland. Nearly a century later, stock prices in England soared as a bold proposal to pay off the national debt caused a fleet of bubble companies to form in its wake. But what happened when the bubbles burst? Did these famous incidents simply demonstrate the potential for market volatility, or did they reflect outbreaks of mass hysteria? Charles Mackay brought his own unique perspective to this, and a number of other remarkable episodes, when the legendary Extraordinary Popular Delusions and the Madness of Crowds first appeared in 1841. 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 Confusión de Confusiones offered a first-hand 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 farreaching influence of Mackay’s and de la Vega’s revered works remains potent and truly timeless. By juxtaposing Extraordinary Popular Delusions and Confusión 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.

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Table of Contents:
In the Realm of the Senseless.

Extraordinary Popular Delusions and the Madness of Crowds.

Confusion de Confusiones.

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Review:
classics discipline psychology

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