Enter your mobile number below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
Once in Golconda: A True Drama of Wall Street 1920-1938
Use the Amazon App to scan ISBNs and compare prices.
Best Books of the Year So Far in fiction, nonfiction, mysteries, children's books, and much more.
Frequently Bought Together
Customers Who Viewed This Item Also Viewed
Top Customer Reviews
Approaching one broker with whom he was on a bad footing, Whitney "made no lame effort to ingratiate himself. Rather he announced brusquely that he 'wanted to get this over with quickly'...Then he said he wanted to borrow $250,000 'on my face.'"
He was denied that time, at least, but Whitney's arrogance was rewarded in other instances. When you were one of Wall Street's aristocrats of the 1920s and 1930s, life was like that.
Whitney is the central character in John Brooks' "Once In Golconda," an absorbing, picaresque account of the New York Stock Exchange's painful coming of age during the Jazz Age and Great Depression. Though there are some patterns watchers of today's stock markets may recognize in this account of the Great Crash of 1929 and its aftermath, some things are probably never to be repeated, probably for the best.
Wall Street in 1929 was a plutocratic fiefdom where might meant right and no one was righter than J.P. Morgan & Co., known by many as "23" for its Wall Street address. But the crash brought anger as it took the rest of the national economy down with it, and in time, calls for reform that the stockbroking elite ignored at their peril. Leading the resistance to change was NYSE President Whitney, who showed great bravery on Black Thursday by placing some stabilizing bids but remained inflexible despite growing demands for needful change.
"Once In Golconda" is a financial history anyone can pick up and enjoy.Read more ›
The book follows the 1920s and 30s stock market from the corner in Stutz stock (on which only people who were long originally gained) to the demise of the aristocratic Richard Whitney.
It could be fiction except that you see the similarities all around.
The description of 1929 is the best I have read. I wish I was there to see Whitney make the most famous bid in all stock exchange history (10 thousand US Steel at 205). I too would have fallen under his spell. And I too would have been shocked and scandalised by his eventual downfall.
Read this and make your judgement. Are you too taken in by the image of today's high flier? Or are you above that? Some people are. I am not sure I am
Two highlights for me are the passionate defense of short selling by Whitney, and how J.P. Morgan's image was transformed virtually overnight by one very humanizing photograph.
Most Recent Customer Reviews
Written with a ton of heart, and a ton of research this true tale carries you right along whilst also seeming very modern, highly recommended.Published 2 months ago by Edward D. Escandon
Anyone reading this entertaining and lively account of Wall Street from 1920-1938 will immediately recognize in each character a counterpart in our times. Read morePublished 13 months ago by Jason V. Kilmer
One of the hazards of being human is that emotion tends to overwhelm intellect. In other words, we tend to believe things, or reject beliefs, because said beliefs make us feel... Read morePublished 23 months ago by Stephen M. St Onge
I found this book a couple of years after first reading The Great Crash. I have now read this book for a third time and it is an extremely good companion book to The Great Crash. Read morePublished on January 26, 2014 by David Ecale
This book is phenomenal. It will open your eyes and make you understand some of the ebbs and flows in the market. It's phenomenal.Published on April 21, 2013 by Jeremy Truitt
This was a book that at first made you feel a strange contempt for the proud look, and lying tongue of not just Richard Whitney, but of the entire Wall Street establishment and the... Read morePublished on June 28, 2010 by Planllc