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Historical events move currencies, stocks, debt, and all other flavors of fiscal instrument, and likewise movements--particularly exaggerated movements--in the financial markets can drive the decisions that shape history in real time. --Tim Knight Those who ignore history are condemned to repeat it. Nowhere is the verity of that old adage more evident than in the financial markets, where human nature and the ebb and flow of world affairs routinely put the lie to the long-cherished--and wholly irrational--belief in rational markets. Now, more than ever, as today's financial markets careen from one crisis to another, it is vitally important for investors and traders to develop an historical perspective on the behavior of the markets, and draw practical lessons from their behavior during times of financial turmoil and economic upheaval. A must read for all traders and investors, this book helps you to develop just such a perspective. With a scholar's thoroughness and a born storyteller's talent for evoking a time and place and the characters who peopled it, top money manager and popular financial blogger Tim Knight takes you on a fascinating journey through five hundred years of the markets, from Tulipmania in 16
th century Holland to today's sovereign debt crisis. He makes copious use of charts and basic technical analysis to provide exhaustive analyses of financial market behavior prior to, during, and following tumultuous events. And he deftly demonstrates how external shocks lead to extreme reactions in the financial markets, how those reactions provided golden opportunities for savvy investors and traders to profit, and what you can learn from their examples. Many of today's most successful traders and investors credit their study of history as being the secret behind their uncanny ability to anticipate and capitalize on market responses to external events. Read Panic, Prosperity, and Progress and acquire the same competitive edge enjoyed by the likes of George Soros, Richard Dennis, John Paulson and other legendary money men.
List of contents
Preface ix
Chapter 1 Tulip Madness 1
Chapter 2 The Mississippi Scheme 9
Chapter 3 The South Sea Bubble 29
Chapter 4 American Revolution in the Colonies 37
Chapter 5 The Panic of 1837 49
Chapter 6 California Gold 63
Chapter 7 The American Civil War 75
Chapter 8 The Panic of 1893 97
Chapter 9 The Rich Man's Panic of 1907 113
Chapter 10 Billion-Dollar Bread-The Weimar Hyperinflation 131
Chapter 11 The Roaring Twenties 145
Chapter 12 The Great Depression 157
Chapter 13 Postwar Prosperity 189
Chapter 14 Energy, Politics, and War 199
Chapter 15 Precious Metals and the Destruction of a Billionaire 219
Chapter 16 Latin American Debt Crisis 245
Chapter 17 The Reagan Revolution and Crash 255
Chapter 18 The Rising and Setting Sun of Japan 269
Chapter 19 The Savings and Loan Debacle 295
Chapter 20 Fall of the Soviet Union 309
Chapter 21 The Asian Contagion 321
Chapter 22 Russian Crisis of 1998 339
Chapter 23 Captured by the Net 353
Chapter 24 The Great Recession 415
Chapter 25 History in the Making 443
About the Author 449
Index 451
About the author
Born in New Orleans, Louisiana, and currently residing in Baton Rouge. I am a retired Army Veteran, wife of a retired Marine veteran, and proud mother of three, one of whom currently serves in the U.S. Army. My educational background includes an Associates in Criminal Justice, Bachelor of Science in Psychology, and a Master of Science in Healthcare Administration. I have dedicated over 20 years working within the healthcare field.
Summary
A detailed guide to financial market performance during financial crises With the financial markets seemingly careening from one crisis to another, it's vital for today s investors and traders to have an historical perspective on market performance during times of great turmoil.
