Speculation, Trading, and Bubbles

Speculation, Trading, and Bubbles

Author: José A. Scheinkman

Publisher: Columbia University Press

Published: 2014-07-08

Total Pages: 137

ISBN-13: 0231537638

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As long as there have been financial markets, there have been bubbles—those moments in which asset prices inflate far beyond their intrinsic value, often with ruinous results. Yet economists are slow to agree on the underlying forces behind these events. In this book José A. Scheinkman offers new insight into the mystery of bubbles. Noting some general characteristics of bubbles—such as the rise in trading volume and the coincidence between increases in supply and bubble implosions—Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations. Other top economists also offer their own thoughts on the issue: Sanford J. Grossman and Patrick Bolton expand on Scheinkman's discussion by looking at factors that contribute to bubbles—such as excessive leverage, overconfidence, mania, and panic in speculative markets—and Kenneth J. Arrow and Joseph E. Stiglitz contextualize Scheinkman's findings.


Devil Take the Hindmost

Devil Take the Hindmost

Author: Edward Chancellor

Publisher: Penguin

Published: 2000-06-01

Total Pages: 401

ISBN-13: 0452281806

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A lively, original, and challenging history of stock market speculation from the 17th century to present day. Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed—and not changed—over the last five hundred years? In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to “stockjobbing” in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, “I can calculate the motion of heavenly bodies, but not the madness of people.” Here are brokers underwriting risks that included highway robbery and the “assurance of female chastity”; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Ivan Boesky and Hillary Rodham Clinton. From the Gilded Age to the Roaring Twenties, from the nineteenth century railway mania to the crash of 1929, from junk bonds and the Japanese bubble economy to the day-traders of the Information Era, Devil Take the Hindmost tells a fascinating story of human dreams and folly through the ages.


Speculative Markets

Speculative Markets

Author: Robert A. Strong

Publisher: Longman Financial Services Publishing

Published: 1989

Total Pages: 400

ISBN-13:

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Contents: Basic Option Principles and Strategies; Option Pricing; Derivative Assets; Contemporary Issues; Gold and Other Metals; Diamonds; Precious Gems and Rare Coins. Apendixes. Glossary. Answer Key for Selected Problems. References. Subject Index. This includes some special highlights: boxes around keypoints, key-terms lists and profiles of industry personnel. Over 30 charts and diagrams illustrating trading strategies.


Speculative Enterprise

Speculative Enterprise

Author: Mattie Burkert

Publisher:

Published: 2021-05-04

Total Pages: 272

ISBN-13: 9780813945958

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In the wake of the 1688 revolution, England's transition to financial capitalism accelerated dramatically. Londoners witnessed the rise of credit-based currencies, securities markets, speculative bubbles, insurance schemes, and lotteries. Many understood these phenomena in terms shaped by their experience with another risky venture at the heart of London life: the public theater. Speculative Enterprise traces the links these observers drew between the operations of Drury Lane and Exchange Alley, including their hypercommercialism, dependence on collective opinion, and accessibility to people of different classes and genders. Mattie Burkert identifies a discursive "theater-finance nexus" at work in plays by Colley Cibber, Richard Steele, and Susanna Centlivre as well as in the vibrant eighteenth-century media landscape. As Burkert demonstrates, the stock market and the entertainment industry were recognized as deeply interconnected institutions that, when considered together, illuminated the nature of the public more broadly and gave rise to new modes of publicity and resistance. In telling this story, Speculative Enterprise combines methods from literary studies, theater and performance history, media theory, and work on print and material culture to provide a fresh understanding of the centrality of theater to public life in eighteenth-century London.


Speculative Communities

Speculative Communities

Author: Aris Komporozos-Athanasiou

Publisher: University of Chicago Press

Published: 2022-01-17

Total Pages: 209

ISBN-13: 0226816028

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"In Speculative Communities, Komporozos-Athanasiou examines the ways that financial speculation has moved beyond markets to shape fundamental aspects of our social and political lives. As ordinary people make exceptional decisions--such as the American election of a populist demagogue or the British vote to leave the European Union--they are moving from time-honored and -tested practices of governance, toward the speculative promise of a different kind of future. Even our methods of building community have shifted to the speculative realm as social media platforms enable and amplify alternative visions of the present and future-these are the "speculative communities" that now shape our personal and political realities. For Komporozos-Athanasiou, "to speculate" means increasingly "to connect," to endorse uncertainty preemptively, and often daringly, as a means of social survival. Finance has thus become the model for society writ large. These financial systems have taken a notable turn in our current era, however. Contemporary capitalism sees the risk-taking, entrepreneurial person being refashioned as a politically disoriented, speculative subject, who embraces the future's radical uncertainty rather than averting it. As Komporozos-Athanasiou shows, virtual marketplaces, new social media, and dating apps function as finance's speculative infrastructures, leading to a new type of imagination across economy and society"--


Hidden Collective Factors in Speculative Trading

Hidden Collective Factors in Speculative Trading

Author: Bertrand M. Roehner

Publisher: Springer Science & Business Media

Published: 2013-03-14

Total Pages: 252

ISBN-13: 3662044285

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This book contains a unified mathematical theory of speculation. Besides analysing stock markets, the book considers a wide range of speculative markets such as: real estate, commodities, postage-stamps, and antiquarian books. Various regularities are discussed. For instance, during a speculative episode, the price of expensive items increases more than the price of less expensive items. Such regularities pave the way for a mathematical theory of speculation. Being mainly empirical, the book is easy to read and does not require technical prerequisites in finance, economics or mathematics.


The Art Of Speculation

The Art Of Speculation

Author: Philip L. Carret

Publisher: Pickle Partners Publishing

Published: 2015-11-06

Total Pages: 401

ISBN-13: 1786256746

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Philip L. Carret (1896-1998) was a famed investor and founder of The Pioneer Fund (Fidelity Mutual Trust), one of the first Mutual Funds in the United States. A former Barron’s reporter and WWI aviator, Carret launched the Mutual Trust in 1928 after managing money for his friends and family. The initial effort evolved into Pioneer Investments. He ran the fund for 55 years, during which an investment of $10,000 became $8 million. Warren Buffett said of him that he had “the best long term investment record of anyone I know” He is most famous for the long successful track record he achieved investing in Common Stocks and for being one of Warren Buffett’s role models. This book comprises a series of articles written for Barron’s and published in book form in 1930.—Print Ed.


Speculative Markets

Speculative Markets

Author: Kristin Peterson

Publisher: Duke University Press

Published: 2014-08-25

Total Pages: 383

ISBN-13: 0822376474

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In this unprecedented account of the dynamics of Nigeria's pharmaceutical markets, Kristin Peterson connects multinational drug company policies, oil concerns, Nigerian political and economic transitions, the circulation of pharmaceuticals in the Global South, Wall Street machinations, and the needs and aspirations of individual Nigerians. Studying the pharmaceutical market in Lagos, Nigeria, she places local market social norms and credit and pricing practices in the broader context of regional, transnational, and global financial capital. Peterson explains how a significant and formerly profitable African pharmaceutical market collapsed in the face of U.S. monetary policies and neoliberal economic reforms, and she illuminates the relation between that collapse and the American turn to speculative capital during the 1980s. In the process, she reveals the mutual constitution of financial speculation in the drug industry and the structural adjustment plans that the IMF imposed on African nations. Her book is a sobering ethnographic analysis of the effects of speculation and "development" as they reverberate across markets and continents, and play out in everyday interpersonal transactions of the Lagos pharmaceutical market.


Economists and the Stock Market

Economists and the Stock Market

Author: J. Patrick Raines

Publisher: Edward Elgar Publishing

Published: 2000

Total Pages: 200

ISBN-13:

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The recent global financial crisis and role of the stock market led to many questioning how the international financial system operates. The authors of this book offer insights into these issues, contrasting speculative explanations with the efficient markets hypothesis.