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Galbraith writes with great wit and erudition about the perilous actions of investors, and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell; "the ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. --Lou Schuler --This text refers to an out of print or unavailable edition of this title.
Everyone investing in the stock market should read this book. Sobering and informative.Published 1 month ago by Yuvraj Atwal
Excellent overview of the 1929 crash. I brought it on an airplane with me, and when the flight attendant saw the title, she said I was getting her nervous. Read morePublished 1 month ago by Lewis Meixler
This was the best review of the Depression that I have read. Very straightforward and an easy read. I like the summary of how this was so different from other recessions.Published 1 month ago by Tim McCormick
Reading this in 2014 makes me wonder how we can continue to forget our own history. The speculation he writes about could have been the 1999 . Read morePublished 1 month ago by Sean Fox
I awesome condition! This book was used for a college course. And I will use it again in the future.Published 1 month ago by Omid Ghoreyan