Category: Financial History

Making an Impact — Investor Amnesia

Reading Time: 14 minutes Source link Caption: “You have qualified thoroughly as modern philanthropists, now why not do some good?” “Illustration shows Puck tugging at the coat-tails of Andrew Carnegie, as he and John D. Rockefeller pile money bags around the base of a statue labeled “Fame”, which they seek by endowing libraries and universities; Puck is suggesting that […]

Psychology, Behavior & Markets — Investor Amnesia

Reading Time: 15 minutes Source link Visualizing History  (Source: Global Financial Data) From the Archives Psychology of the Stock Market (1912) Despite all the facts, figures, and statistics… so much of the stock market comes down to human behavior. As my boss, Jim O’Shaughnessy likes to say, “human nature is the last arbitrage.”  I recommend reading the table of contents, and reading […]

Elections and Markets — Investor Amnesia

Reading Time: 16 minutes Source link “Illustration shows Uncle Sam holding up a balance scale with “Labor” on the left and “Capital” on the right; when the two are balanced the scale points toward “Prosperity” and when uneven, the scale points toward ‘Depression’.” (Source) Visualizing History  (Source: Global Financial Data) From the Archives Benner’s Prophecies of Future Ups and Downs in […]

Gambling, Lies & Markets — Investor Amnesia

Reading Time: 21 minutes Source link Visualizing History  Anglo-Mexican Mining Association The first of the British mining companies to go public in the Speculative Boom of 1825. (Source: Global Financial Data) From the Archives Facts, Failures, and Frauds (1859) A 19th century account of financial fraud that reads as relevant today as it did back then. Consider the first page of […]

The Road Ahead

Reading Time: 11 minutes Source link Visualizing History  US Stocks Under Different Administrations (1871 – Present) (Source: Global Financial Data) From the Archives Young America in Wall-Street (1857) Sunday Reads Not that the Summer of 2020 was a particularly stellar one, what with a global pandemic and all… but in the stock market, Summer was pretty good to major indices: That […]

The Same Old Boom — Investor Amnesia

Reading Time: 19 minutes Source link Visualizing History  United States Sectors 1800 to 2018 (Source: Global Financial Data) From the Archives While you should peruse the entire book and find a section that sounds interesting to you, I would highly encourage you to read this section on The Speculator vs. The Investor . The Causes Influencing Investment & Speculation & the Fluctuations in […]

The Next Frontier — Investor Amnesia

Reading Time: 13 minutes Source link Visualizing History  From the Archives The Elements of Land Valuation (1852) Sunday Reads “‘Were I to characterize the United States,’ said one British traveler who toured the country in the 1790s, ‘it should be by the appellation of the Land of Speculation.” –The Exchange Artist Within a matter of months, COVID-19 has altered the […]

The Public and Private Markets — Investor Amnesia

Reading Time: 12 minutes Source link Visualizing History  Source: The British Origins of the US Endowment Model From the Archives Successful Stock Speculation (1922) Sunday Reads A few weeks ago, Michael Mauboussin dropped a 90-page bombshell of a research report titled ‘Public to Private Equity in the United States: A Long-Term Look’:  “Markets have become more sophisticated over time as […]

Speculation & Innovation — Investor Amnesia

Reading Time: 14 minutes Source link Visualizing History  The Electric Vehicle Company Stock Price: 1899 – 1907 “The Electric Vehicle Co. was founded in 1897 and as other electric vehicle manufacturers went bankrupt, it took over their factories. The company took control of the Motor Vehicle Co. of Elizabeth, NJ, the Pope Manufacturing Co., the Columbia Automobile Co. and […]

Financial Contraptions — Investor Amnesia

Reading Time: 13 minutes Source link Visualizing History  IPOs for the Long Run  From the Archives The Art of Wall Street Investing (1909) Sunday Reads Over the last few weeks and months you may have heard or read about an acronym that is experiencing a renaissance among investors: SPAC (Special Purpose Acquisition Company). Investopedia provides a simple explanation of how […]

Securitization & Markets — Investor Amnesia

Reading Time: 12 minutes Source link Description: “A crowd of capitalists on Wall Street fleeing a volcano labeled “Common Honesty” erupting in the background; they are carrying packages labeled “Secret Rate Schedules, Rebate Agreements, Watered Stocks, [and] Frenzied Accounts”. The top of the volcano shows the face of Theodore Roosevelt.” Visualizing History    From the Archives A Guide to Profitable […]

Bankruptcy & Markets — Investor Amnesia

Reading Time: 17 minutes Source link Description: Print shows a ship labeled “Wrecked Corporation” and “Insurance Co. Bankrupt” that has wrecked on rocks with a darkened lighthouse labeled “Trust” and “Justice” nearby; its light has been snuffed by “Judge” and “Corruption”. Victims of the wreck, some clinging to the ship, others in the water, are labeled “Policy Holder” and […]

An American History — Investor Amnesia

Reading Time: 14 minutes Source link Visualizing History  Industry Breakdowns (1900 vs. 2019) Size of Global Stock Markets (1899 vs. 2019) Source From the Archives Essays in The Earlier History of American Corporations (1917) Sunday Reads Uncle Sam: “Well! Will this nuisance ever learn that the country governs Wall Street; not Wall Street, the country?” As yesterday marked the annual […]

Fraud, Short Sellers & Media — Investor Amnesia

Reading Time: 16 minutes Source link The ‘Spirit of Honesty’ haunts a corporate board room filled with Lobbyists, Speculating Trust Companies, Employed Perjurers, Watered Stock Certificates, and Fake Promoters. Visualizing History  From the Archives Facts, Failures, and Frauds (1859) A 19th century account of financial fraud that reads as relevant today as it did back then. Consider the first page […]

Race, Riots & Markets — Investor Amnesia

Reading Time: 16 minutes Source link Visualizing History    From the Archives The GreenBook ‘The Negro Motorist Green Book was a guidebook for African American travelers that provided a list of hotels, boarding houses, taverns, restaurants, service stations and other establishments throughout the country that served African Americans patrons. Victor H. Green published it annually from 1936 to 1966 when […]

News, Media, & Markets — Investor Amnesia

Reading Time: 9 minutes Source link Yellow Press = The original ‘fake news’ Visualizing History  From the Archives Facts, Failures, and Frauds (1859) Sunday Reads The relationship between journalism, media, and financial markets is one of love and hate. We all know that stories can move markets, and there are exemplary investigative journalists that expose wrongdoing and fraud to investors. […]

Part II — Investor Amnesia

Reading Time: 13 minutes Source link Visualizing History  ‘Dots represent city-level 1918 influenza mortality and manufacturing employment growth around the 1918 Flu Pandemic. Green (red) dots are cities with non-pharmaceutical intervention (NPI) days above (below) the median fall 1918.’ Source From the Archives The American (Spanish) Influenza Epidemic of 1918 – 1919 A digital encyclopedia with hundreds of primary sources covering […]

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