{"product_id":"the-first-crash-lessons-from-the-south-sea-bubble","title":"The First Crash: Lessons from the South Sea Bubble","description":"For nearly three centuries the spectacular rise and fall of the South Sea Company has gripped the public imagination as the most graphic warning to investors of the dangers of unbridled speculation. Yet history repeats itself and the same elemental forces that drove up the price of South Sea shares to dizzying heights in 1720 have in recent years produced the global crash of 1987  the Japanese stock market bubble of the 1980s\/90s  and the international dot.com boom of the 1990s.  The First Crash 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 Londons 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 dot.com 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 todays investors everywhere. This book is therefore aimed at all those with an interest in the behavior of stock markets.","brand":"My Store","offers":[{"title":"Default Title","offer_id":44897741635637,"sku":"ByrdShop_0691119716","price":318.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/ByrdShop_0691119716.jpg?v=1767609856","url":"https:\/\/atxbooks.com\/products\/the-first-crash-lessons-from-the-south-sea-bubble","provider":"ATX Books","version":"1.0","type":"link"}