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The First Crash: Lessons from the South Sea Bubble
 
 

The First Crash: Lessons from the South Sea Bubble (Hardcover)

by Richard S. Dale (Author) "THE YEAR 1720 is a seminal date in financial history for it was in that year that stock markets in London, Paris and Amsterdam, as..." (more)
5.0 out of 5 stars See all reviews (1 customer review)
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Product details

  • Hardcover: 192 pages
  • Publisher: Princeton University Press; illustrated edition edition (27 Sep 2004)
  • Language English
  • ISBN-10: 0691119716
  • ISBN-13: 978-0691119717
  • Product Dimensions: 23.6 x 16.3 x 2.3 cm
  • Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
  • Amazon.co.uk Sales Rank: 447,274 in Books (See Bestsellers in Books)

    Popular in this category:

    #61 in  Books > Business, Finance & Law > Professional Finance > Investments & Securities > Options
  • See Complete Table of Contents

Product Description

Review
Richard Dale . . . picks a scholarly but readable path through the events that led to the collapse of shares in the infamous South Sea Company in 1720. Only the purblind could fail to draw some important parallels between the events of that year and the bubbles of the more recent past, not least the dot.com mania of five years ago.
(Jonathan Davis The Independent )

Review
In this gripping tale of the South Sea scam, Richard Dale describes personal and corporate greed, creative accounting, and financial malpractice. He writes about events from three centuries ago, but his analysis is relevant to today's investors, traders, and policymakers.
(Elroy Dimson, London Business School, author of "Triumph of the Optimists" )

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Inside This Book (Learn More)
First Sentence
THE YEAR 1720 is a seminal date in financial history for it was in that year that stock markets in London, Paris and Amsterdam, as well as in lesser centres such as Hamburg and Lisbon, experienced a contagious collapse which brought ruin to investors and threatened the stability of governments. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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The First Crash: Lessons from the South Sea Bubble
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The First Crash: Lessons from the South Sea Bubble 5.0 out of 5 stars (1)
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4 of 4 people found the following review helpful:
5.0 out of 5 stars Highly Recommended!, 18 Aug 2005
By Rolf Dobelli "getAbstract.com" (Switzerland) - See all my reviews
(TOP 50 REVIEWER)    (REAL NAME)   
This is a fascinating book about a fascinating time, the early eighteenth century. You will find greed, corruption, romance, duels, kings, regents and stock-jobbing scoundrels, often described by such astute contemporary chroniclers as Daniel Defoe. But this book rests on a foundation, sometimes a little too evident, of solid and painstaking financial analysis. It is perhaps the first book, certainly the first recent book, to present in great detail the analysis of Archibald Hutcheson. Hutcheson seems to have been a lone voice for sobriety and reason in the mad epoch of the South Sea Bubble. Author Richard Dale carefully draws a remarkable number of clear parallels between the first bubble in history and the most recent - the tech splat of the 1990s. We believe that anyone who is involved in the financial markets should read this book. It is particularly timely in bull markets.
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