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Author Dale, Richard

Title The first crash : lessons from the South sea bubble / Richard Dale
Published Princeton, N.J. : Princeton University Press, [2004]
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Description 1 online resource (198 pages) : illustrations
Contents Coffee houses, the press and misinformation -- Exchange Alley and the evolution of London's securities market -- Origins of the South Sea Company -- John Law and the Mississippi Bubble -- The South Sea scheme -- The bubble -- The crash -- Crisis resolution -- Lessons from the South Sea Bubble. Appendix II. Hutcheson's South Sea parable ; Appendix II. Technical note on stock and subscription price data
Summary "The First Church throws light on the current debate about investor rationality by re-examining the story of the South Sea Bubble from the standpoint of investors and commentators during and preceding the fateful bubble year. In absorbing prose, Richard Dale describes the trading techniques of London's Exchange Alley (which included 'modern' transactions such as derivatives) and uses new data, as well as the hitherto neglected writings of a brilliant contemporary financial analyst, to show how investors lost their bearings during the Bubble period in much the same way as during the boom." "The events of 1720, as presented here, offer insights into the nature of financial markets that, being independent of place and time, deserve to be considered by today's investors everywhere. This book is therefore aimed at all those with an interest in the behavior of stock markets."--Jacket
Bibliography Includes bibliographical references (pages 187-194) and index
Notes Print version record
Subject South Sea Company -- History.
Capital market -- Great Britain -- History -- 18th century.
Financial crises -- Great Britain -- History -- 18th century.
South Sea Bubble, Great Britain, 1720.
Stocks -- Prices -- Great Britain -- History -- 18th century.
Genre/Form History.
Form Electronic book
ISBN 1306548047 (electronic bk.)
1400851645 (electronic bk.)
9781306548045 (electronic bk.)
9781400851645 (electronic bk.)