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Extraordinary Popular Delusions and the Madness of Crowds and Confusión de Confu |
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Extraordinary Popular Delusions and the Madness of Crowds and Confusión de Confu |
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基本信息·出版社：John Wiley & Sons
·页码：224 页
·出版日期：1995年12月
·ISBN：0471133124
·条形码：9780471133124
·装帧：平装
·正文语种：英语
·丛书名：A Marketplace Book
内容简介 在线阅读本书
"The market never ceases to befuddle and beguile. These two venerable works are fixtures on the short lists for most valuable books on the securities markets, and investors continue to cherish them." –From the Introduction by Martin S. Fridson Managing Director, Merrill Lynch & Co. Author of Investment Illusions
Exploring the sometimes hilarious, sometimes devastating impact of crowd behavior and trading trickery on the financial markets, this book brilliantly combines two all–time investment classics. Extraordinary Popular Delusions and Confusión de Confusiones take us from Tulipmania in 1634–when tulips actually traded at a higher price than gold–to the South Sea "bubble" of 1720, and beyond. Securities analyst and author Martin Fridson guides you on a quirky, entertaining, and intriguing journey back through time.
Chosen by the Financial Times as Two of the Ten Best Books Ever Written on Investment
Critical Praise . . .
"This is the most important book ever written about crowd psychology and, by extension, about financial markets. A serious student of the markets and even anyone interested in the extremes of human behavior should read this book!" –Ron Insana, CNBC
"In combining ′Extraordinary′ with ′Confusion,′ the result is not extraordinary confusion. Instead, with clarity, the book sears into modern investor minds the dangers of following the crowd." –Greg Heberlein, The Seattle Times
"You will see between its staid lines (written in ye olde English and as ponderable as Buddha′s navel) that, despite what the media says, nothing really important has changed in the financial markets in centuries." –Kenneth L. Fisher, Forbes
作者简介 Martin S. Fridson is a Managing Director at Merrill Lynch & Co., and a member of Institutional Investor′s All–America Research Team. He is the author of Financial Statement Analysis, Second Edition and Investment Illusions, both published by Wiley. Fridson also serves on the editorial board of Financial Analysts Journal.
Charles Mackay, L.L.D., was a Scottish journalist in the nineteenth century. He received an honorary law degree from Glasgow University and was a renowned poet and songwriter.
Joseph de la Vega was a businessman and poet residing in seventeenth–century Amsterdam. He lived in a community of Portuguese Jews whose ancestors had fled the Spanish Inquisition.
编辑推荐 Amazon.com Review Why do otherwise intelligent individuals form seething masses of idiocy when they engage in collective action? Why do financially sensible people jump lemming-like into harebrained speculative frenzies -- only to jump broker-like out of windows when their fantasies dissolve? We may think that the Great Crash of 1929, junk bonds of the '80s, and overvalued high-tech stocks of the '90s are peculiarly 20th century aberrations, but the excerpts of these two classics--first published in 1841 and 1688, respectively--show that the madness and confusion of crowds knows no limits, and has no temporal bounds. These are extraordinarily illuminating and, unfortunately, entertaining tales of chicanery, greed, and naivete.
Essential reading for any student of human nature or the transmission of ideas.
In fact, cases such as Tulipomania in 1624--when tulip bulbs traded at a higher price than gold--suggest the existence of what I would dub "Mackay's Law of Mass Action": when it comes to the effect of social behavior on the intelligence of individuals, 1+1 is often considerably less than 1, and sometimes less than 0.
Review
"...the book sears into modern investor minds the dangers of following the crowd." -- Greg Heberlein, The Seattle Times
"This is the most important book ever written about crowd psychology and, by extension, about financial markets..." -- Ron Insana, CNBC
"You will see between its staid lines...that...nothing really important has changed in the financial markets in centuries." -- Kenneth L. Fisher, Forbes --This text refers to the Hardcover edition.
