The Speculator of Financial Markets PDF Download

Author: Daniele D’Alvia
Publisher: Springer Nature
ISBN: 3031479017
Category : Business & Economics
Languages : en
Pages : 312

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Book Description
The book illustrates financial markets from the point of view of their subjectivity, namely by analysing one of the most prominent figures among market operators: the speculator. Whereas many textbooks or monographs are strictly devoted to the analysis of financial law or history, this book tells a remarkable story based on markets’ boom-bust, expectations, banks’ fragilities, market sentiment, desires, and dreams. In light of this, D’Alvia provides unique financial knowledge and delivers a book that constitutes an outstanding introduction to the topic of the speculator through its historical account and its evolution till modern days. Academics, lawyers, financial regulators, and retail and qualified investors should save a space for it on their shelves.

Author: Philip L. Carret
Publisher: Pickle Partners Publishing
ISBN: 1786256746
Category : Business & Economics
Languages : en
Pages : 401

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Book Description
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.

Author: Lawrence E. Mitchell
Publisher: ReadHowYouWant.com
ISBN: 1458722732
Category : Business & Economics
Languages : en
Pages : 434

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Book Description
The first book to reveal the deep historical roots of the modern corporate obsession with stock price - a major cause of recent scandals like those at Enron and WorldComDetails how the rise of the modern corporation created the modern stock market - and why this led to an economy dominated by stock speculationAmerican companies once focused exclusively on providing the best products and services. But today, most corporations are obsessed with maximizing their stock prices, resulting in short-term thinking and the kind of cook-the-books corruption seen in the Enron and WorldCom scandals. How did this happen?In this groundbreaking book, Lawrence E. Mitchell traces the origins of the problem to the first decade of the 20th century, when industrialists and bankers began merging existing companies into huge ''combines''- today's giant corporations - so they could profit by manufacturing and selling stock in these new entities. He describes and analyzes the legal changes that made this possible, the federal regulatory efforts that missed the significance of this transforming development, and the changes in American society and culture that led more and more Americans to enter the market, turning from relatively safe bonds to riskier common stock in the hopes of becoming rich. Financiers and the corporations they controlled encouraged this trend, but as stock ownership expanded and businesses were increasingly forced to cater to stockholders' ''get rich quick'' expectations, a subtle but revolutionary shift in the nature of the American economy occurred: finance no longer served industry; instead, industry began to serve finance.The Speculation Economy analyzes the history behind the opening of this economic Pandora's box, the root cause of so many modern acts of corporate malfeasance.

Author: Edward Chancellor
Publisher: Penguin
ISBN: 0452281806
Category : Business & Economics
Languages : en
Pages : 401

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Book Description
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.

Author: Stuart Banner
Publisher: Oxford University Press
ISBN: 0190623047
Category : Business & Economics
Languages : en
Pages : 353

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Book Description
What is the difference between a gambler and a speculator? Is there a readily identifiable line separating the two? If so, is it possible for us to discourage the former while encouraging the latter? These difficult questions cut across the entirety of American economic history, and the periodic failures by regulators to differentiate between irresponsible gambling and clear-headed investing have often been the proximate causes of catastrophic economic downturns. Most recently, the blurring of speculation and gambling in U.S. real estate markets fueled the 2008 global financial crisis, but it is one in a long line of similar economic disasters going back to the nation's founding. In Speculation, author Stuart Banner provides a sweeping and story-rich history of how the murky lines separating investment, speculation, and outright gambling have shaped America from the 1790s to the present. Regulators and courts always struggled to draw a line between investment and gambling, and it is no easier now than it was two centuries ago. Advocates for risky investments have long argued that risk-taking is what defines America. Critics counter that unregulated speculation results in bubbles that always draw in the least informed investors-gamblers, essentially. Financial chaos is the result. The debate has been a perennial feature of American history, with the pattern repeating before and after every financial downturn since the 1790s. The Panic of 1837, the speculative boom of the roaring twenties, and the real estate bubble of the early 2000s are all emblematic of the difficulty in differentiating sober from reckless speculation. Even after the recent financial crisis, the debate continues. Some, chastened by the crash, argue that we need to prohibit certain risky transactions, but others respond by citing the benefits of loosely governed markets and the dangers of over-regulation. These episodes have generated deep ambivalence, yet Americans' faith in investment and - by extension - the stock market has always rebounded quickly after even the most savage downturns. Indeed, the speculator on the make is a central figure in the folklore of American capitalism. Engaging and accessible, Speculation synthesizes a suite of themes that sit at the heart of American history - the ability of courts and regulators to protect ordinary Americans from the ravages of capitalism; the periodic fallibility of the American economy; and - not least - the moral conundrum inherent in valuing those who produce goods over those who speculate, and yet enjoying the fruits of speculation. Banner's history is not only invaluable for understanding the fault lines beneath the American economy today, but American identity itself.

Author: Vyjayanthi Venuturupalli Rao
Publisher: Duke University Press Books
ISBN: 9780822358152
Category : Art
Languages : en
Pages : 0

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Book Description
Interdisciplinary in design and concept, Speculation, Now illuminates unexpected convergences between images, concepts, and language. Artwork is interspersed among essays that approach speculation and progressive change from surprising perspectives. A radical cartographer asks whether "the speculative" can be represented on a map. An ethnographer investigates religious possession in Islam to contemplate states between the divine and the seemingly human. A financial technologist queries understandings of speculation in financial markets. A multimedia artist and activist considers the relation between social change and assumptions about the conditions to be changed, and an architect posits purposeful neglect as political strategy. The book includes an extensive glossary with more than twenty short entries in which scholars contemplate such speculation-related notions as insurance, hallucination, prophecy, the paradox of beginnings, and states of half-knowledge. The book's artful, nonlinear design mirrors and reinforces the notion of contingency that animates it. By embracing speculation substantively, stylistically, seriously, and playfully, Speculation, Now reveals its subversive and critical potential. Artists and essayists include William Darity Jr., Filip De Boeck, Boris Groys, Hans Haacke, Darrick Hamilton, Laura Kurgan, Lin + Lam, Gary Lincoff, Lize Mogel, Christina Moon, Stefania Pandolfo, Satya Pemmaraju, Mary Poovey, Walid Raad, Sherene Schostak, Robert Sember, and Srdjan Jovanović Weiss. Published by Duke University Press and the Vera List Center for Art and Politics at The New School

Author: Emily Lambert
Publisher: Basic Books
ISBN: 0465022979
Category : Business & Economics
Languages : en
Pages : 242

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Book Description
In The Futures, Emily Lambert, senior writer at Forbes magazine, tells us the rich and dramatic history of the Chicago Mercantile Exchange and Chicago Board of Trade, which together comprised the original, most bustling futures market in the world. She details the emergence of the futures business as a kind of meeting place for gamblers and farmers and its subsequent transformation into a sophisticated electronic market where contracts are traded at lightning-fast speeds. Lambert also details the disastrous effects of Wall Street's adoption of the futures contract without the rules and close-knit social bonds that had made trading it in Chicago work so well. Ultimately Lambert argues that the futures markets are the real "free" markets and that speculators, far from being mere parasites, can serve a vital economic and social function given the right architecture. The traditional futures market, she explains, because of its written and cultural limits, can serve as a useful example for how markets ought to work and become a tonic for our current financial ills.

Author: Louis Bachelier
Publisher: Princeton University Press
ISBN: 1400829305
Category : Business & Economics
Languages : en
Pages : 205

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Book Description
March 29, 1900, is considered by many to be the day mathematical finance was born. On that day a French doctoral student, Louis Bachelier, successfully defended his thesis Théorie de la Spéculation at the Sorbonne. The jury, while noting that the topic was "far away from those usually considered by our candidates," appreciated its high degree of originality. This book provides a new translation, with commentary and background, of Bachelier's seminal work. Bachelier's thesis is a remarkable document on two counts. In mathematical terms Bachelier's achievement was to introduce many of the concepts of what is now known as stochastic analysis. His purpose, however, was to give a theory for the valuation of financial options. He came up with a formula that is both correct on its own terms and surprisingly close to the Nobel Prize-winning solution to the option pricing problem by Fischer Black, Myron Scholes, and Robert Merton in 1973, the first decisive advance since 1900. Aside from providing an accurate and accessible translation, this book traces the twin-track intellectual history of stochastic analysis and financial economics, starting with Bachelier in 1900 and ending in the 1980s when the theory of option pricing was substantially complete. The story is a curious one. The economic side of Bachelier's work was ignored until its rediscovery by financial economists more than fifty years later. The results were spectacular: within twenty-five years the whole theory was worked out, and a multibillion-dollar global industry of option trading had emerged.

Author: Alexander Davidson
Publisher: Kogan Page Publishers
ISBN: 9780749444945
Category : Business & Economics
Languages : en
Pages : 314

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Book Description
City expert Alex Davidson reveals the secrets of making money as a stock market speculator. Offering trading methods for up and down markets, the guide equips the reader to trade like a professional, showing which financial instruments to use, and how to limit losses and maximize gains.

Author: Urs Stäheli
Publisher: Stanford University Press
ISBN: 0804788251
Category : Social Science
Languages : en
Pages : 312

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Book Description
Spectacular Speculation is a history and sociological analysis of the semantics of speculation from 1870 to 1930, when speculation began to assume enormous importance in popular culture. Informed by the work of Luhmann, Foucault, Simmel and Deleuze, it looks at how speculation was translated into popular knowledge and charts the discursive struggles of making speculation a legitimate economic practice. Noting that the vocabulary available to discuss the concept was not properly economic, the book reveals the underside of putting it into words. Speculation's success depended upon non-economic language and morally questionable thrills: a proximity to the wasteful practice of gambling or other "degenerate" behaviors, the experience of financial markets as seductive, or out of control. American discourses of speculation take center stage, and the book covers an unusual range of material, including stock exchange guidebooks, ticker tape, moral treatises, plays, advertisements, and newspapers.