The Panic of 1907: Lessons Learned from the Market's Perfect Storm: Amazon.co.uk: Robert F. Bruner, Sean D. Carr: Books

Review

.,."a great academic study, which was meant to be a warning. Instead, it reads like a description of what has just happened."--"Financial Times"

"A dull textbook it's not: Most chapters amount to six or seven pages of storytelling with cliffhangers... entertaining read..."--"Bloomberg News"

.,."the definitive guide to the stock market panic of '07"--"The TImes"

"an important read..."--thestreet.com

"Bruner, dean of the University of Virginia's Darden School of Business, and Carr, director of the school's Batten Institute, tell the gripping tale of one of the worst financial panics in modern history, where greed and lack of liquidity (sound familiar, people?) dragged stocks down 37 percent."--U.S. News & World Report

"When The Business Press Maven first cast his eye for business journalism onto business books, it was with the ultimate hope of familiarizing investors with historical insight, which is more common in books than what is demonstrated in newsrooms and trading floors--where yesterday's news and trades qualify as fixtures from a bygone era . . . . That is why I am going to grant "The Panic of 1907: Lessons Learned from the Market's Perfect Storm," a resounding "Help" label from The Business Press Maven, putting it in the probable running for Top 10 Business Press Maven Books of 2007. In case you still don't get it, this is very high praise."--Marek Fuchs, The Business Press Maven, TheStreet.com

"This retelling of Morgan's bravura performance is a page-turning mix of high finance and high drama"--"Barron's"

.,."the definitive guide to the stock market panic of '07" ("The Times," Thursday 13th September 2007)

"Well worth reading" ("The Business,"Saturday 15th September 2007)

"With this book as their guide, readers will take away important insights...developing a deeper understanding of financial markets" ("What Investment?," November 2007)

"A very worthwhile book for advisors who, having just lived through a financial crisis of global implications, are casting about for a larger conceptual framework regarding such events."--"Financial Advisor"

"Steering clear of the extremes, the authors dissect the 'perfect storm' that blew through the financial system in 1907 and identify seven elements that converge to cause financial crisis . . . Timely read."--The Hindu Business Line (October 19, 2007)

"a useful book on market contagion" ("bloomberg.com," Wednesday 5th December 2007)

"Anyone who needs convincing that financial history is constantly repeating itself should pursue this timely tome." ("Spear's Wealth & Management Survey," January 2008)

"My column today quotes from one of the most insightful books I have ever read, "The Panic of 1907." When I read it last year, I thought it had lessons for today, but I did not realize just how quickly those lessons would become crucial."--Floyd Norris, New York Times

"A very relevant read in today's subprime infested financial environment." ("Gulf Business," February 2008)

"Bruner and Carr deliver more than just a good story." ("Risk," February 2008)

"Robert Bruner and Sean Carr, both scholars from the Darden School of Business at the University of Virginia, have written a very important book titled The Panic of 1907: Lessons Learned from the Market's Perfect Storm.

The value of Bruner and Carr's book is not only the detailed historical examination ofthe 1907 financial panic but the scholarly work they did in examining the financial panics that have occurred over the past one hundred years. It was by examining numerous panics that Bruner and Carr were able to develop an outline of how panics begin, spread, and how they are ultimately resolved." -Roger G. Hagstrom, Legg Mason Growth Trust, Investment Commentary and Quarterly Report to Shareholders (March 31, 2008)

Bloomberg News, Friday 24th August 2007

"A dull textbook it's not: Most chapters amount to six or seven pages of storytelling with cliffhangers... entertaining read..." --This text refers to the Hardcover edition.

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Most Helpful Customer Reviews

Rip Van Winkle: sleeps 1907, awakes 2007 14 Oct 2011

By demola

Format:Paperback

A crazy reminder why we humans are crazy, oftentimes repeating history without any collective wisdom seemingly having taken place. You read this account of 1907 and it could well be 2007. The jacket cover proclaims "Lessons learned" - don't believe a word. We haven't learned nuthing. The same massive redistribution of wealth away from the many and greedy and stupid to the few and smart and lucky. Lord have mercy.

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2 of 3 people found the following review helpful

Great lessons from the past 15 Nov 2009

By Mariusz Skonieczny

Why in the world are we talking about 1907 when we are dealing with the current financial crisis? Because there are many similarities. I found this book very interesting especially after reading other books on the subject whose authors suggest to getting rid of the Federal Reserve and the FDIC. Both of these institutions were born because of the Panic of 1907, which was really a liquidity crisis, similar to what we saw in late 2008. In 1907, the person who saved the day was J.P. Morgan, and today, people such as Ben Bernanke and Tim Geithner are trying to do the same.

This book is perfect for readers who would like learn more about what is happening with our economy by looking at the past. I enjoyed reading this book very much.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

4 of 6 people found the following review helpful

A vivid history and critique of the 1907 financial crisis 21 Oct 2008

By Rolf Dobelli TOP 500 REVIEWER

Format:Hardcover

If you compare the 1907 crisis that struck U.S. and European financial institutions with 2008's economic emergencies, you will discover striking similarities. (In fact, the uncanny parallels have made this fascinating book a bestseller.) Strong interconnectivity between financial firms meant that trouble at one migrated to others. Both crises involved serious credit and liquidity concerns. Both provoked populist attacks against Wall Street. In part, the trusts hit trouble in 1907 because of insufficient regulation. The 1907 crisis started on Wall Street, and quickly jumped to European institutions. In 2008, the trajectory was even more global. Of course, marked differences also separate these episodes. In 1907, fabled financier J.P. Morgan exercised remarkable leadership to end the crisis, and to reassure depositors and investors that their savings and equity holdings were secure. Morgan calmed the waters so the panic would not spread. "This is the place to stop this trouble," he said of the Trust Company of America. Robert F. Bruner and Sean D. Carr explain why the 1907 panic occurred and use it as a valuable case study for understanding other monetary crises. getAbstract is confident that history lovers, businesspeople, financial executives and anyone who enjoys a well-told, real-life drama will love this book.