A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation
3.5/5
()
Currently unavailable
Currently unavailable
About this ebook
In this absorbing, smart, and accessible blend of economic and cultural history, Scott Nations, a longtime trader, financial engineer, and CNBC contributor, takes us on a journey through the five significant stock market crashes in the past century to reveal how they defined the United States today
The Panic of 1907: When the Knickerbocker Trust Company failed, after a brazen attempt to manipulate the stock market led to a disastrous run on the banks, the Dow lost nearly half its value in weeks. Only billionaire J.P. Morgan was able to save the stock market.
Black Tuesday (1929): As the newly created Federal Reserve System repeatedly adjusted interest rates in all the wrong ways, investment trusts, the darlings of that decade, became the catalyst that caused the bubble to burst, and the Dow fell dramatically, leading swiftly to the Great Depression.
Black Monday (1987): When "portfolio insurance," a new tool meant to protect investments, instead led to increased losses, and corporate raiders drove stock prices above their real values, the Dow dropped an astonishing 22.6 percent in one day.
The Great Recession (2008): As homeowners began defaulting on mortgages, investment portfolios that contained them collapsed, bringing the nation's largest banks, much of the economy, and the stock market down with them.
The Flash Crash (2010): When one investment manager, using a runaway computer algorithm that was dangerously unstable and poorly understood, reacted to the economic turmoil in Greece, the stock market took an unprecedentedly sudden plunge, with the Dow shedding 998.5 points (roughly a trillion dollars in valuation) in just minutes.
The stories behind the great crashes are filled with drama, human foibles, and heroic rescues. Taken together they tell the larger story of a nation reaching enormous heights of financial power while experiencing precipitous dips that alter and reset a market where millions of Americans invest their savings, and on which they depend for their futures. Scott Nations vividly shows how each of these major crashes played a role in America's political and cultural fabric, each providing painful lessons that have strengthened us and helped us to build the nation we know today.
A History of the United States in Five Crashes clearly and compellingly illustrates the connections between these major financial collapses and examines the solid, clear-cut lessons they offer for preventing the next one.
Scott Nations
Scott Nations is the president of NationsShares, a financial engineering firm. He is a regular contributor to CNBC, where he frequently appears on-air to discuss markets, derivatives, and other investment topics. He is the author of two technical books for option traders, Options Math for Traders and The Complete Book of Option Spreads and Combinations. He lives in Chicago, Illinois.
Read more from Scott Nations
A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation Rating: 4 out of 5 stars4/5
Related to A History of the United States in Five Crashes
Related ebooks
Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy Rating: 4 out of 5 stars4/5A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History Rating: 4 out of 5 stars4/5How an Economy Grows and Why It Crashes Rating: 4 out of 5 stars4/5The House of Dimon: How JPMorgan's Jamie Dimon Rose to the Top of the Financial World Rating: 4 out of 5 stars4/5The Successful Investor Today: 14 Simple Truths You Must Know When You Invest Rating: 5 out of 5 stars5/5The Shadow Market: How a Group of Wealthy Nations and Powerful Investors Secretly Dominate the World Rating: 4 out of 5 stars4/5The Coming Currency Collapse and what you can do about it Rating: 5 out of 5 stars5/5Fed Up!: Success, Excess and Crisis Through the Eyes of a Hedge Fund Macro Trader Rating: 0 out of 5 stars0 ratingsWhat to Do When the Bubble Pops: Personal and Business Strategies For The Coming Economic Winter Rating: 5 out of 5 stars5/5The Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes, and Real Money Rating: 0 out of 5 stars0 ratingsThe End of the Everything Bubble: Why $75 trillion of investor wealth is in mortal jeopardy Rating: 4 out of 5 stars4/5Capital Wars: The Rise of Global Liquidity Rating: 0 out of 5 stars0 ratingsThe Bond King: How One Man Made a Market, Built an Empire, and Lost It All Rating: 4 out of 5 stars4/5What Caused the Financial Crisis Rating: 5 out of 5 stars5/5Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation Rating: 3 out of 5 stars3/5This Time Is Different: Eight Centuries of Financial Folly Rating: 4 out of 5 stars4/5The Panic of 1907: Lessons Learned from the Market's Perfect Storm Rating: 4 out of 5 stars4/5Irrational Exuberance: Revised and Expanded Third Edition Rating: 4 out of 5 stars4/5The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street Rating: 4 out of 5 stars4/5Anatomy of the Bear: Lessons from Wall Street's four great bottoms Rating: 4 out of 5 stars4/5The Day the Bubble Burst: A Social History of the Wall Street Crash of 1929 Rating: 5 out of 5 stars5/5Adaptive Markets: Financial Evolution at the Speed of Thought Rating: 4 out of 5 stars4/5The New Financial Order: Risk in the 21st Century Rating: 4 out of 5 stars4/5The Birth of Plenty: How the Prosperity of the Modern Work was Created Rating: 4 out of 5 stars4/5The Federal Reserve and the Financial Crisis Rating: 4 out of 5 stars4/5Volcker: The Triumph of Persistence Rating: 4 out of 5 stars4/5Kochland: The Secret History of Koch Industries and Corporate Power in America Rating: 4 out of 5 stars4/5Money: Whence It Came, Where It Went Rating: 4 out of 5 stars4/5
United States History For You
A People's History of the United States Rating: 4 out of 5 stars4/5Masters of the Air: America's Bomber Boys Who Fought the Air War Against Nazi Germany Rating: 4 out of 5 stars4/5The Fourth Turning Is Here: What the Seasons of History Tell Us about How and When This Crisis Will End Rating: 4 out of 5 stars4/5How to Hide an Empire: A History of the Greater United States Rating: 4 out of 5 stars4/51776 Rating: 4 out of 5 stars4/5Master Slave Husband Wife: An Epic Journey from Slavery to Freedom Rating: 4 out of 5 stars4/5Bury My Heart at Wounded Knee: An Indian History of the American West Rating: 4 out of 5 stars4/5Lies My Teacher Told Me: Everything Your American History Textbook Got Wrong Rating: 4 out of 5 stars4/5The Book of Charlie: Wisdom from the Remarkable American Life of a 109-Year-Old Man Rating: 4 out of 5 stars4/5Slouching Towards Bethlehem: Essays Rating: 4 out of 5 stars4/5Killing the Guys Who Killed the Guy Who Killed Lincoln: A Nutty Story About Edwin Booth and Boston Corbett Rating: 5 out of 5 stars5/5The Library Book Rating: 4 out of 5 stars4/5The Devil's Chessboard: Allen Dulles, the CIA, and the Rise of America's Secret Government Rating: 5 out of 5 stars5/5Manhunt: The 12-Day Chase for Lincoln's Killer: An Edgar Award Winner Rating: 4 out of 5 stars4/5The Indifferent Stars Above: The Harrowing Saga of the Donner Party Rating: 4 out of 5 stars4/5The Fifties Rating: 4 out of 5 stars4/5Vanderbilt: The Rise and Fall of an American Dynasty Rating: 4 out of 5 stars4/5Twelve Years a Slave (Illustrated) (Two Pence books) Rating: 4 out of 5 stars4/5Angels in America: A Gay Fantasia on National Themes: Revised and Complete Edition Rating: 4 out of 5 stars4/5Frederick Douglass: Prophet of Freedom Rating: 4 out of 5 stars4/5The White Album: Essays Rating: 4 out of 5 stars4/5The Right Stuff Rating: 4 out of 5 stars4/5The Great Reset: And the War for the World Rating: 4 out of 5 stars4/5The Pioneers: The Heroic Story of the Settlers Who Brought the American Ideal West Rating: 4 out of 5 stars4/5Disloyal: A Memoir: The True Story of the Former Personal Attorney to President Donald J. Trump Rating: 4 out of 5 stars4/5The Emerald Mile: The Epic Story of the Fastest Ride in History Through the Heart of the Grand Canyon Rating: 5 out of 5 stars5/5Waco: David Koresh, the Branch Davidians, and A Legacy of Rage Rating: 4 out of 5 stars4/5
Reviews for A History of the United States in Five Crashes
14 ratings0 reviews