A History of the United States in Fiv..., Scott Nations
A History of the United States in Fiv..., Scott Nations
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A History of the United States in Five Crashes
Stock Market Meltdowns That Defined a Nation

Author: Scott Nations

Narrator: Christopher Grove

Unabridged: 12 hr 32 min

Format: Digital Audiobook Download

Publisher: HarperAudio

Published: 06/13/2017


Synopsis

In this absorbing, smart, and accessible blend of economic and cultural history in the vein of the works of Michael Lewis and Andrew Ross Sorkin, a financial executive and CNBC contributor examines the five most significant stock market crashes in the United States over the past century, revealing how they have defined the nation today.THE PANIC OF 1907; BLACK TUESDAY (1929); BLACK MONDAY (1987); THE GREAT RECESSION (2008); THE FLASH CRASH (2010): Each of these financial implosions that caused a catastrophic drop in the American stock market is a remarkable story in its own right. But taken together, they offer a unique financial history of the American century. In A History of the United States in Five Crashes, financial executive and CNBC contributor Scott Nations examines these precipitous dips, revealing how each played a role in America’s political and cultural fabric, one building upon the next to create the nation we know today.Scott Nations identifies the factors behind the disastrous runs on banks that led to the Panic of 1907, the first great scare of the twentieth century. He explains why 1920s America adopted investment trusts—a practice that helped post—World War I Britain—and how they were a primary catalyst of the 1929 crash. He explores America’s love affair with an expanding stock market in the 1980s—which spawned the birth of portfolio insurance that significantly contributed to the 1987 crash. And he examines the factors that led to the 2008 global meltdown, and the rise of algorithmic trading, the modern financial technology that sparked the 2010 Flash Crash when American stocks lost a trillion dollars in minutes.A History of the United States in Five Crashes clearly and compellingly illustrates the connections between these financial collapses and examines the solid, clear-cut lessons they offer for preventing the next one.

About 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.


Reviews

Goodreads review by Joseph on October 11, 2021

A fascinating read, start to finish. The author details the five major stock market crashes of the twentieth and twenty first centuries. We learn what the catalysts were that triggered the crashes, as well as their impact on the greater world economy and business in general. We also are introduced t......more

Goodreads review by Aharon on August 03, 2018

I feel like the genesis of every business history includes this conversation: Editor: These facts about interest rates are all very well, but you must engage the reader. Author: What if I described men's facial hair? Editor: Hmmm...it's a start. Author: And maybe descriptions of incidental characters' c......more

Goodreads review by Jorge on November 18, 2018

This is a great book, along my expectations on getting to know a bit more what I knew around stock market crashes. Obviously, it is aimed and should mostly be of interest to anyone interested in reading on the stock market and on History. If this is not your case, do yourself and the author a favor......more

Goodreads review by Andreas on August 12, 2018

Clear and methodical. I like the structure with which he tells this story. This book is in many ways akin to fx "The big short" and "When Genius Failed" except that this book is shorter and more concise and doesn't deal the the interpersonal dramas as the other books. This book explains simply the m......more

Goodreads review by Anas on April 22, 2021

Understanding the market crashes is essential to understanding the current market. As Mark Twain says "History does not repeat itself, but it rhymes". If we want to summarize all the 5 major market crashes that are described in this book, we can simplify all the stories into a single pattern: Smart f......more