Greedy Wisdom - The History of Speculation from Disgrace to Respect: The History of Speculation from Disgrace to Respect

Author: Charles R. Geist
Publisher:
Publish Date: 2006-10-01
Features: For over 150 years, speculation in financial markets, particularly in futures markets, has been an important part of the history of the American financial market. Indeed, speculation enhances liquidity, mitigates risk, and creates one myth after another. Speculation has repeatedly shattered people's dreams of getting rich; it has made outstanding "gambling kings" like Benjamin Harrison, P.D. Ammon, and Jay Gould; but it has also led industry giants like Long-Term Capital Management and Barings Bank to collapse. Therefore, in a sense, the history of the financial market is a history of speculation! For the first time, "The Wisdom of Greed" comprehensively describes the colorful and scandalous history of the American futures market's profitable journey. This book attempts to clarify how market speculation gradually emerged and was recognized by capturing the early spirit of the market, events in chronological order, and the individuals who filled the market with clamor and suspicion. Renowned business historian and best-selling author Charles R. Geist elaborates in detail on the characteristics and strategies of the futures market, as well as the role of speculation in general on daily life, from before the American Civil War to the entire 20th century. Yes, perhaps only by restoring history can we interpret the true meaning of wisdom in a space free of pretense and affectation. For the first time, this book comprehensively describes the colorful and scandalous history of the American futures market's profitable journey. This book attempts to clarify how market speculation gradually emerged and was recognized by capturing the early spirit of the market, events in chronological order, and the individuals who filled the market with clamor and suspicion. Renowned business historian and best-selling author Charles R. Geist elaborates in detail on the characteristics and strategies of the futures market, as well as the role of speculation in general on daily life, from before the American Civil War to the entire 20th century. Perhaps only by restoring history can we interpret the true meaning of wisdom in a space free of pretense and affectation.