Earlier this week I wrote (again) about the importance of understanding financial market history. This prompted a few people to ask for some of my favourite books on the topic. Here goes:
“Devil Take the Hindmost: A History of Financial Speculation”
If I had to pick just one book to read on the topic, this would be the one. Edward Chancellor weaves history, psychology, and economics beautifully in what is also one of the better-named finance books I’ve come across.
“The Panic of 1907: Lessons Learned From the Market’s Perfect Storm”
The story behind the banking crisis most people probably aren’t familiar with. This book shows how primitive the financial markets were before banking regulations and the Fed came around.
“The Great Depression: A Diary”
This first-person account of what life was like during the Great Depression is not only a lesson in financial market history but also how difficult that period in history was for those living through it. I can’t recommend this one enough.
