Thursday, 20 August 2015

Every Man a Speculator: A History of Wall Street in American Life

After series of Chinese books, time to visit some English stuff....

I choose this book as the topic attracts me a lot. However, the more I read it, the boring I was, LOL. After all, this is a book about pre-1900 period of America finance; which history channel has better visual enjoyment compares to reading a thick book, LOL. In fact, this is not an academic style of Wall Street stuff. It is more on the perception of Wall Street in America life. As such, the title of "history" sounds a bit misleading.

Furthermore, a "perception" with 600 over pages is really hard to digest. To me, at least those stories sound familiar. However, to anyone who are not really familiar, it is hard to focus and enjoy the whole reading process.

In my humble opinion, this book is similar to "Extraordinary Popular Delusions and The Madness of Crowds". But, I prefer the latter probably because I read it much earlier and any repetition does not appeal to me anymore.

As a summary, there is nothing new under the sun. The history itself could repeat as demonstrated recently though subprime crisis (maybe a new one with different format coming soon? Hmm...). Hence, this is still a nice book to refresh some of our memories on how speculating can bring glories as well as real damages. For a full rating of 10, I am going to rate it at 3. This book is not my cup of tea and I think there are better alternative to understand the history of Wall Street. 

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