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Thanks to Surfshark for sponsoring the show. Go to https://surfshark.com/stackingb or use code STACKINGB at checkout to get 4 extra months of Surfshark VPN!Isaac Newton was one of the smartest humans who ever lived. He also bought into the South Sea Bubble, sold for a profit, watched it keep climbing, bought back in out of pure FOMO, and rode it all the way down to an 80% loss that haunted him until he died. Ben Carlson, co-host of the Animal Spirits podcast and one of the sharpest minds at Ritholtz Wealth Management, joins Joe and Anna to walk through centuries of market history -- bubbles, crashes, and the psychology that makes smart people do dumb things with money. Anna also helps a Stacker named Louie untangle his 401(k) sources and figure out whether it's finally time to bring in a professional.What You'll Walk Away WithWhy Isaac Newton's South Sea Bubble loss still ranks among history's most instructive investing failures -- and why it had nothing to do with intelligenceBen's framework for why risk means something completely different depending on where you are in your life cycle -- and why a market crash genuinely doesn't matter the same way to a 25-year-old and a 55-year-oldThe wrong lesson an entire generation learned from 2008 -- and why everyone preparing for the last crisis missed the next seventeen years of bull marketWhy Japan's three-decade stock market bubble is the best real-world case for diversification -- and why it doesn't translate as cleanly to the US as people assumeThe behavioral reason complex investment strategies are easy to sell and nearly impossible to hold through a downturn -- while simple strategies survive the painWhy Ben's firm discovered that the hardest financial transition isn't saving for retirement -- it's actually learning to spend the money once you get thereThe Beanie Babies divorce court story that perfectly captures what every bubble looks like from the outsideAnna and OG's take on Louie's four-source 401(k): why it's simpler to manage than it looks, and why "move everything to Roth" is the wrong instinct for most DIY investorsThe Roth conversion icing-on-the-cake strategy: how to use pre-tax and Roth buckets together to manage your tax bracket year by year in retirementWhy one financial pro has a surprisingly negative take on HSAs at death -- and the timing problem that makes spending one down in retirement genuinely trickyWhy This Matters NowEvery market cycle feels unprecedented while you're living through it. Understanding the actual constant -- human psychology, not headlines -- is the difference between riding out volatility and becoming a cautionary tale, smart as you might be.From the BasementBen Carlson joins Joe and Anna to walk through centuries of bubbles, crashes, and the psychological wiring that makes both geniuses and ordinary investors do the same dumb things. Doug arrives with Statue of Liberty trivia tied to America's upcoming 250th anniversary. A Stacker calling himself Louie -- and getting Anna instead of OG, much to his surprise -- asks for help simplifying his 401(k) and figuring out his Roth conversion strategy, and gets a reminder that he's already doing better than he thinks.Resources MentionedRisk and Reward: How to Handle Market Volatility and Build Long-Term Wealth by Ben Carlson -- available wherever books are soldAnimal Spirits podcast -- Ben Carlson and Michael Batnick; available wherever you listen to podcastsRitholtz Wealth Management -- referenced for prior guests Barry Ritholtz, Josh Brown, and Nick MaggiulliWhere Are the Customers' Yachts? by Fred Schwed -- referenced for the famous quote on the emotional experience of losing moneyPaul Merriman's research on asset allocation -- paulmerriman.comStacking Benjamins Vault -- stackingbenjamins.com/vaultStacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201Stacking Benjamins voicemail line -- stackingbenjamins.com/yelldownstairsStacking Benjamins Community -- stackingbenjamins.com/basementSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this episode we step forward less than a century to the twin financial catastrophes of 1720: the Mississippi Bubble in France and the South Sea Bubble in Britain.These two events unfolded almost simultaneously, separated only by the English Channel, yet they are profoundly linked by shared ideas, cross-border news flow, and the same underlying desperation: how to refinance crushing national debts left by decades of ruinous war. Both schemes promised to convert fixed-interest government annuities into corporate stock that would pay high dividends from exotic overseas trade. Both ignited wild speculation that drove share prices to astronomical levels in months. Both collapsed spectacularly in 1720, ruining thousands of investors, exposing corruption at the highest levels, and leaving lasting scars on economic thought, public trust, and financial regulation.
This is a special IBKR Podcast, the second installment in our series following The Tulip Bubble: When Flowers Cost More Than Houses. The South Sea Bubble explores how a wave of speculation, corruption and mass delusion turned a debt-restructuring scheme into one of history's most infamous financial manias, leaving fortunes destroyed and lessons that still resonate today.
“Fraud makes up between 40 and 50 percent of all crime in the UK. Police resource dedicated to fraud: 1 percent. No country is giving fraud the attention it deserves.” — Becky Holmes Was Shakespeare a fraud? Possibly, says Becky Holmes, the Stratford-upon-Avon-based writer and the lady behind the X account @deathtospinach. She should know. Best known as the author of Keanu Reeves Is Not In Love With You, a cult hit among the romance fraud crowd, Holmes' latest book is The Future of Fraud. It's a short, sharp, witty history and anatomy of fraud, from the first recorded case in ancient Greece to today's AI-enabled deepfakes and romance scams. Holmes' most alarming statistic is that fraud accounts for between 40 and 50 percent of all crime in the United Kingdom, while only 1% of police resources are dedicated to investigating it. No wonder so few fraudsters are ever prosecuted. Holmes wants more Sherlocks. She wants fraud awareness on every school curriculum. And she wants our language to change. No, you didn't “fall for” a scam. Your money was stolen from you. As if you were mugged on the street or your home was broken into. The internet was bad enough for fraud. But AI, she warns, offers online criminals even more opportunity. It's not just Keanu Reeves who isn't in love with you. Never trust a handsome soldier, she says. Especially a virtual one. Five Takeaways • The First Recorded Fraud: 300 BC, Greece: A Greek merchant took out an insurance policy on his boat, borrowed money, and planned to sink it and collect the proceeds. It didn't go according to plan. But the basic structure — a false representation designed to extract money or goods from another party — has not changed in 2,300 years. Every fraud since, from the South Sea Bubble to Bernie Madoff to AI-enabled romance scams, is a variation on the same theme: getting something from someone by not telling the truth. • AI Has Erased All the Red Flags: Holmes used to advise romance fraud victims and potential victims: if he won't do a video call, that's suspicious. If the voice sounds wrong, that's suspicious. If he can't meet in person, that's suspicious. AI has rendered all of these warnings useless. You can now have a fully convincing video call, voice message, and real-time conversation with someone who doesn't exist. Deepfakes mean you can't even trust what your eyes tell you. The “red flags” that protected fraud victims for thirty years are gone. • 40 to 50 Percent of Crime, 1 Percent of Resource: In the United Kingdom, fraud accounts for between 40 and 50 percent of all recorded crime. Police resources dedicated to investigating fraud: 1 percent. Holmes cites a comparable US statistic: in one state, there were millions of people and ten police officers dedicated to cybercrime — and not one of them did it as their primary job. No country, Holmes argues, is giving fraud the attention it deserves. The gap between the scale of the problem and the resources devoted to it is not a funding issue. It is a political choice. • You Didn't Lose Your Money. It Was Taken from You: Holmes has a crusade about language. The phrase “fell for a scam” implies the victim's credulity caused the loss. “Lost their money” implies carelessness. Both are wrong: in fraud, money is taken by a deliberate criminal act. Holmes wants the language changed because language shapes understanding, and understanding shapes policy. If fraud victims are seen as complicit in their own victimhood, society finds it easier to underfund investigation and under-prosecute offenders. Reclaiming the language is not symbolic. It is strategic. • Fraud Awareness Should Be on Every School Curriculum: Holmes's most concrete prescription. Every person on the planet will encounter fraud at some point. Teaching children to recognise it should be as basic as teaching them to cross the road safely. It should be age-appropriate: fraud awareness around gaming sites and online chat when children first go online; around bank accounts and credit cards when they turn eighteen; around investment fraud at university level. The alternative — leaving it to parents, who are often themselves uneducated about fraud — is not good enough. The next generation of fraudsters is already on the gaming headsets. About the Guest Becky Holmes is the creator of the X account @deathtospinach, a fraud prevention speaker and writer, and the author of The Future of Fraud (Melville House, April 2026) and Keanu Reeves Is Not In Love With You: The Murky World of Online Romance Fraud. She lives in Stratford-upon-Avon. References: • The Future of Fraud by Becky Holmes (Melville House, April 2026). • Keanu Reeves Is Not In Love With You: The Murky World of Online Romance Fraud by Becky Holmes (Unbound, 2024). • Episode 2890: Anja Shortland on Dark Screens — ransomware as the companion episode on the booming business of cybercrime. About Keen On America Nobody asks more awkward questions than the Anglo-American writer and filmmaker Andrew Keen. In Keen On America, Andrew brings his pointed Transatlantic wit to making sense of the United States — hosting daily interviews about the history and future of this now venerable Republic. With nearly 2,900 episodes since the show launched on TechCrunch in 2010, Keen On America is the most prolific intellectual interview show in the history of podcasting. WebsiteSubstackYouTubeApple PodcastsSpotify Chapters: (00:31) - Introduction: Was Shakespeare a fraud? (01:35) - Everyone has been into fraud at some point in history (01:44) - What is fraud? A working definition (02:41) - Anja Shortland and the British women and fraud connection (03:16) - How Becky got into fraud: handsome soldiers on Twitter during lockdown (03:32) - @deathtospinach: the origin of the handle (04:53) - Where does romance fraud end and marketing oneself begin? (05:27) - Motive is the line: wanting money from a relationship (06:09) - Fraud for sex and power: a different kind of romance fraud (06:50) - The spinach debate: raw vs. cooked (...
He died at the Battle of Bosworth in 1485. And we haven't been able to stop talking about him since. Yes, it's time to consider the story of England's last Plantagenet king, Richard III — a centuries-old tangle involving alleged murder, Shakespeare, vanquish and one mighty rediscovery. In this debut episode of History's Greatest Fails, Dan Jones and Elizabeth Day argue that the story of Richard's rise and fall (and rise again) is much more modern that you'd first believe. Not least because of the reality-TV-style discovery of his remains under a Leicester council car park in 2022. In many ways, Richard's alleged ‘failures' — which include allegedly killing the Princes in the Tower and overseeing the demise of Plantagenet rule — overshadow Richard III as the reformer that also existed. He introduced trial by jury and translated many laws into English. But those facts are not often what's associated with him. He's more likely to be seen as the villainous caricature of Shakespeare's Richard III. So in this episode, we'll discover: What Richard's story tells us about failure in the present. How Tudor propaganda codified his ‘failure', and how How those failures have been revised over over the centuries And the chain of events that propelled the search for his bones – As always, Dan's royal favourites can chime in anytime on the royal court on Patreon at patreon.com/thisishistory. And don't forget to listen to this season's accompanying bonus episodes for this miniseries, where Dan and Producer Al are dissecting the biggest historical failures as submitted by the royal favourites. This episode, they discuss Wat Tyler's failed Peasants Rebellion, Tulip Mania, and the South Sea Bubble of 1720. – A Sony Music Entertainment production. Find more great podcasts from Sony Music Entertainment at sonymusic.com/podcasts To bring your brand to life in this podcast, email podcastadsales@sonymusic.com Learn more about your ad choices. Visit megaphone.fm/adchoices –– Presented by Dan Jones and Elizabeth Day Producer - Alan Weedon Senior Producer - Dominic Tyerman Researcher - Phoebe Joyce Executive Producer - Simon Poole Executive Producer - Dan Jones Executive Producer for Daylight Productions - Elizabeth Day Production Manager - Jen Mistri Production coordinator - Eric Ryan Head of content - Chris Skinner Special thanks to Alex Lawless, Hannah Talbot, and Selina Ream Learn more about your ad choices. Visit podcastchoices.com/adchoices
People often use commodities as a portfolio diversifier or a hedge against inflation, and while this can be true for some materials, commodities vary broadly so knowing what types to use can be a challenge. Nathan discusses how different commodities move in relation to the markets, and how to properly use them for diversification. Also, on our MoneyTalk Moment in Financial History we discuss one of the earliest and most consequential financial bubbles of all time, the South Sea Bubble. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 3/11/2026. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.
In this episode, Clay reviews Devil Take the Hindmost by Edward Chancellor and explores three of the most infamous market bubbles in financial history: the South Sea Bubble of 1720, the Railway Mania of 1845, and Japan's asset bubble of the late 1980s. These case studies examine how greed, leverage, speculation, and misplaced faith in government or institutions repeatedly led investors to abandon fundamentals. IN THIS EPISODE YOU'LL LEARN: 00:00:00 - Intro 00:01:59 - Why financial bubbles repeat throughout history despite changing technologies and markets 00:03:14 - The key psychological forces that drive speculative manias 00:04:47 - How speculation differs from long-term investing, and where the line often gets crossed 00:25:25 - The role governments, institutions, and incentives play in fueling bubbles 00:34:35 - Why leverage amplifies both gains and losses during periods of extreme speculation 01:03:44 - Key lessons from history's biggest bubbles Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Learn how to join us in Omaha for the Berkshire meeting here. Edward Chancellor's book: Devil Take the Hindmost. Related Episode TIP729: Mastering the Capital Cycle w/ Clay Finck. Follow Clay on X and LinkedIn. Related books mentioned in the podcast. Ad-free episodes on our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Facebook. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: HardBlock Human Rights Foundation Masterworks Linkedin Talent Solutions Simple Mining Plus500 Shopify Fundrise Netsuite References to any third-party products, services, or advertisers do not constitute endorsements, and The Investors Podcast Network is not responsible for any claims made by them. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
When you're young, it's easy to get paralyzed worrying about how you should be saving for retirement, but the first and most important step is to just be saving. Donna and Nathan discuss strategies you can follow to catch up on your retirement savings if you feel like you've fallen behind. Also, on our MoneyTalk Moment in Financial History we discuss one of the earliest and most consequential financial bubbles of all time, the South Sea Bubble. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®; Special Guest: Daniel Sowa; Air Date: 4/30/2025; Original Air Dates: 7/24/2024 & 8/27/2024. Have a question for the hosts? Visit sowafinancial.com/moneytalk to join the conversation!See omnystudio.com/listener for privacy information.
Trevor Jackson is an economic historian teaching at Berkeley. I talk to him about the current political situation of the universities and the science, and about his own research area, the history of capitalism, which has always been prone to crashes and other crises. The development of a capitalist economy is also the story of the elites learning to evade responsibility for the failures, while reaping the rewards of markets. What role does elite impunity play in the current crisis of political legitimacy? Could this be changed, and, if so, how?
On this episode of DAOC, the gang goes back in time. Join us as we venture to the invention of speculation markets itself to explore one of history's first desperate acts of capitalism: The South Sea Bubble. Edited and thumbnail by Noah JOIN US ON PATREON FOR EARLY EPISODE RELEASES, BONUS CONTENT, AND MORE: www.patreon.com/desperateactsofcapitalism BIG THINGS ARE COMING Sources: Great Bubbles, Ross B Emmett, The Secret History of the South Sea Bubble by Malcom Balen, The South Sea Bubble by Helen J Paul
1720 was a year of two bubbles and a plague - The Mississippi Company in France –and the South Sea Bubble in England were the first large scale financial bubbles on record. In September 1720 - when the bubbles burst, England and France were plunged into economic and political crisis's. These were amongst the first examples of financial boom and bust cycles and were the events that gave rise to the use of the term bubble to describe a spectacular market failure. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Sources: Money For Nothing by Arthur Levinson: https://amzn.to/3PUbbcV The King, the Crook, and the Gambler by Malcolm Balen: https://amzn.to/3CFq7bM The Life of Isaac Newton by Richard Westfall: https://amzn.to/4hfXbWU Manias Panics & Crashes - Kindelberger: https://amzn.to/40xOrnX Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance YouTube Channel: https://www.youtube.com/@PBoyle
This is a solo episode heavily influenced by the book 'Devil Take The Hindmost'.In Episode #473 of 'Musings' it is just myself Kyrin and I'm discussing: the beginnings, growth and eventual popping of financial bubbles across history (with examples like the Tulip Mania and the South Sea Bubble), why these criteria are all subjective and not numbers based, the reasons I believe there is a crypto/AI bubble that is midway through it's cycle and some predictions for what I think could happen in the next 6-18 months.A huge thanks to Lyceum & Petar for the support this week, it is very much appreciated!Book Review link: https://www.youtube.com/live/aMPMOoypovoTimeline:(00:00:00) Intro(00:02:25) Bubble Beginnings(00:13:03) Bubble Growing(00:22:39) & Strengthening(00:33:46) Popping Zone(00:39:44) Flaunting & Eccentric(00:43:33) Boostagram Lounge(00:46:59) Crypto/AI Bubble Beginnings(00:54:51) Crypto AI Bubble Growing(01:00:00) & Strengthening(01:05:53) Crypto/AI Popping Zone(01:10:08) This Time It's Different(01:13:21) V4V: Time/Talent/Treasure Connect with Mere Mortals:Website: https://www.meremortalspodcast.com/Discord: https://discord.gg/jjfq9eGReUTwitter/X: https://twitter.com/meremortalspodInstagram: https://www.instagram.com/meremortalspodcast/TikTok: https://www.tiktok.com/@meremortalspodcastValue 4 Value Support:Boostagram: https://www.meremortalspodcast.com/supportPaypal: https://www.paypal.com/paypalme/meremortalspodcast
All of the fun of gambling without any of the boring math!'Devil Take The Hindmost' by Edward Chancellor is a series of snapshots across history of financial speculation (so called bubbles). Presents not only the instances of craziness but also the feeling of the time (notable periods being The Tulip Mania, South Sea Bubble and The Gilded Age amongst others). Not super heavy on statistics; more so newspaper articles, quotes from notable people and behavioural reactions of the people. Chapters are broken into individual time periods and you won't see any charts or graphs either.If you got value from the podcast please provide support back in any way you best see fit!Timeline:(00:00:00) Intro(00:03:09) Themes/Questions(00:22:23) Author & Extras(00:27:11) Summary(00:29:59) Value 4 Value(00:30:51) Join Live! Value 4 Value Support:Boostagram: https://www.meremortalspodcast.com/supportPaypal: https://www.paypal.com/paypalme/meremortalspodcastConnect with Mere Mortals:Website: https://www.meremortalspodcast.com/Discord: https://discord.gg/jjfq9eGReUTwitter/X: https://twitter.com/meremortalspodInstagram: https://www.instagram.com/meremortalspodcast/TikTok: https://www.tiktok.com/@meremortalspodcast
The Health Savings Account is what is known as a tax unicorn, combining some of the key tax benefits of both tax deductible and tax deferred accounts, so if your employer offers an HSA as part of your benefits package you should strongly consider it. Donna and Nathan discuss how to use the HSA to its full benefits. Also, on our MoneyTalk Moment in Financial History we discuss one of the earliest and most consequential financial bubbles of all time, The South Sea Bubble. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®; Air Date: 12/11/2024; Original Air Dates: 2/15/2024 & 7/24/2024. Have a question for the hosts? Visit sowafinancial.com/moneytalk to join the conversation!See omnystudio.com/listener for privacy information.
Sleepy Time Tales Podcast – Creating a restful mindset through relaxing bedtime stories
Memoirs of Extraordinary Popular Delusions - Fallout of the South Sea Bubble This week we return to the bizarre economic bubble that rose up around the opening of the South Sea trade, based on fraudulent claims of treaties and access it was ultimately a method for some people to get very rich, then very poor. And while it reflects modern society in many was as people still fall for scams, it's not so infuriating that it will keep you awake as you try drift off to sleep. Story (02:47) Find Memoirs of Extraordinary Popular Delusions and the Madness of Crowds by Mackay https://www.gutenberg.org/ebooks/24518 Supporting Sleepy Time Tales If you would like to support my work and help keep the podcast available and for free, there are several ways you can support the show. · You can support the show as a supporter on Patreon and receive a host of bonuses including Patron only episodes and special edits https://www.patreon.com/sleepytimetales · If you're enjoying Sleepy Time Tales and would like to make a financial contribution, but would rather not commit to a monthly payment then you can throw a tip in the jar at paypal.me/sleepytimetales Patreon Sleep Tight Patrons Jess Chris & Moya Sharon Chuck Mysti Roberta Charity Traci Emily Moya Brian Sandra Carla Joseph AY Amy Allison S Please Share If you're enjoying the show, and finding it helps you sleep despite the stresses and strains of your life, the absolute best thing you can do is share it with your friends, families, acquaintances, cellmates etc. Anyone who needs a good night's sleep might benefit. So please share it with the people in your life, whether in person or on social media. Find The Show Website: sleepytimetales.net Patreon: https://www.patreon.com/sleepytimetales Facebook: https://www.facebook.com/sleepytimetalespodcast/ YouTube: https://www.youtube.com/c/SleepyTimeTales Merch: https://www.teepublic.com/?ref_id=25247 Project Gutenberg Terms of Use https://www.gutenberg.org/wiki/Gutenberg:Terms_of_Use
Financial booms and busts are as old as time and in the modern era we have seen many. From the South Sea Bubble to the Dot Com Crash. But are these stock market manias really all about money or is something more insidious actually taking place? In episode 77 we uncover how financial manias have been engineered time and time again in order to help build out the global surveillance infrastructure that will make up the technocracy. Having revealed the hallmarks of the method in part one by exploring the Dot Com Crash of the year 2000, we then consider how the same process is being enacted as we speak, with cryptocurrencies, in order to put in place the final bubble that will force us to make a great leap forward towards centrally controlled digital currencies, tokenized assets and 15 minute cities. Part 2 for Members - www.parallelmike.com Mike's Investing Community and Financial Newsletter – www.patreon.com/parallelsystems Consult with Mike 1-2-1 - www.parallelmike.com/consultation
Are you unwittingly falling for financial fads that could derail your wealth? What if we told you that some of history's brightest minds have been duped by financial manias? (Spoiler alert: Even Sir Isaac Newton wasn't immune!) Have you ever wondered how Ponzi schemes still manage to fool people? Or why seemingly rational investors get caught up in the dot-com frenzy? These aren't just isolated incidents - they're driven by timeless quirks in human psychology. From the South Sea Bubble of 1720 to the more recent Bitcoin boom, we're about to show you how understanding these historical patterns can help you make smarter financial decisions today. Tune in to learn how to spot red flags, diversify wisely, and implement strategies like Bank On Yourself. Don't let your brain sabotage your wealth - listen now and safeguard your financial future! 00:00 Newton's Financial Folly 00:58 Historical Financial Fads and Scams 03:15 Welcome to Wealth Wisdom Financial Podcast 07:37 Practical Tips to Avoid Financial Fads 15:52 Bank On Yourself: Scam or Strategy? 19:40 Conclusion and Final Thoughts Links mentioned in the show: Schedule a Discovery Call here: https://www.wealthwisdomfp.com/call Join the Wealth Wisdom Financial Community for more practical tips and a group of people to grow your wealth alongside: https://www.wealthwisdomfp.com/community Watch on YouTube here: https://youtu.be/o8HBE5fe9D4
As money managers, we tend to consult history as a guidepost for where markets may be headed, and the further back you look, the clearer the picture often becomes. Nathan and Steve take us on a journey through 100 years of stock market returns, highlighting trends that may surprise you. Also, on our MoneyTalk Moment in Financial History we discuss one of the earliest and most consequential financial bubbles of all time, the South Sea Bubble. Hosts: Nathan Beauvais CFP®, CIMA® & Steven Beauvais; Air Date: 7/24/2024. Have a question for the hosts? Visit sowafinancial.com/moneytalk-radio to join the conversation!See omnystudio.com/listener for privacy information.
Curators Jake Subryan Richards and Vicky Avery locate Cambridge within the transatlantic slave trade, connecting global commodities and local consumption, historic and contemporary art, to reveal how five hundred years of colonial resistance constructed new cultures, known as the Black Atlantic. Between 1400 and 1900, European empires colonised much of the Americas, transporting over 12.5 million people to these colonies from Africa as slaves. It's a history often recounted as something singular, concluded in the past - detached as happening ‘then, and over there' - else told from the perspective of imperial powers. But in their resistance of colonial slavery, people also produced new cultures that continue to shape our present. Black Atlantic, a new exhibition at Cambridge's Fitzwilliam Museum, reconnects the institution's collection, university, and city more widely with these global histories. Installed within the Founder's Galleries, part-funded by the profits from the transatlantic slave trade, it builds on the ‘grandeur and smugness' of the Fitzwilliam's architecture - an intervention which asks whether it is possible to decolonise museums, as imperial infrastructures. Co-curators Jake Subryan Richards and Vicky Avery consider contrasts and continuities between historic and modern works, with contemporary Black artists like Barbara Walker and Keith Piper, Alberta Whittle and Donald Locke commenting on visibility, racism, and colourism, and how visual representations of Black people have shifted over time. Vicky smashes stereotypes about abolitionism, ceramics, and popular culture, from the UK's largest pro-slavery punch bowl, to Jacqueline Bishop's new Wedgwood dinner set. Plus, with a botanical painting from a Caribbean plantation - one of the first signed works by a Black artist of a Black subject - we travel between environments in West Africa, North and South America, and Europe, finding examples of exploitation, agency, and self-liberation - and pathways to future ‘repair'. Black Atlantic: Power, People, Resistance runs at the Fitzwilliam Museum in Cambridge until 7 January 2024, the first in a series of exhibitions and gallery interventions planned until 2026. For more on the South Sea Bubble, listen to Dr. Helen Paul on The Luxborough Gallery on Fire (c. 18th Century): https://pod.link/1533637675/episode/c02b6b82097b9ce34d193c771f772152 Part of EMPIRE LINES at 90, exploring the legacies of the transatlantic slave trade through contemporary art. WITH: Dr. Jake Subryan Richards, Assistant Professor of International History at the London School of Economics and Political Science. Dr. Victoria Avery, Keeper of European Sculpture and Decorative Arts at the Fitzwilliam Museum. They are co-curators of Black Atlantic: Power, People, Resistance. ART: ‘The Coloureds' Codex, Keith Piper (2023); Vanishing Point 25 (Costanzi), Barbara Walker (2021); Breadfruit Tree, John Tyley (1793-1800); History of the Dinner Table, Jacqueline Bishop (2021)'. IMAGE: Installation View. SOUNDS: Jacqueline Bishop: History at the Dinner Table. Produced by Storya.co. With special thanks to the Paul Mellon Centre for Studies in British Art. PRODUCER: Jelena Sofronijevic. Follow EMPIRE LINES on Twitter: twitter.com/jelsofron/status/1306563558063271936 And Instagram: instagram.com/empirelinespodcast Support EMPIRE LINES on Patreon: patreon.com/empirelines
WEALTH HISTORY EP.44 นี้ ชวนพูดคุยถึงเหตุการณ์ฟองสบู่แตกครั้งแรกในประวัติศาสตร์ตลาดทุนโลก โดยเกิดขึ้นกับหุ้นของบริษัท South Sea ที่เทรดในตลาดหลักทรัพย์ลอนดอน ประเทศอังกฤษ ในปี 1720 เรื่องราวเป็นอย่างไร ติดตามได้กับโฮสต์ประจำรายการ วิทย์ สิทธิเวคิน
“I could calculate the motions of the heavenly stars, but not the madness of people.” Sir Isaac Newton With ‘Money' becoming more liquid, and ‘The Market' more fluid, investors in ‘The City' searched far and wide for new opportunities. Mikey and Paul are hot on their heels - hoping to catch a glimpse of the bubbles before they burst. Give feedback and follow Heroes & Howlers on Facebook, Twitter and Instagram Produced by DM PodcastsSee omnystudio.com/listener for privacy information.
The financial revolution in Europe was an outgrowth of the scientific revolution, and the greatest minds of the time were studying, commenting on, and even participating in the emerging world of finance. Then came the 1720 South Sea Bubble and the financial crisis that followed.Thomas Levenson is a Professor of Science Writing at the Massachusetts Institute of Technology. He is also an author, and his latest book is titled Money for Nothing: The Scientists, Fraudsters, and Corrupt Politicians Who Reinvented Money, Panicked a Nation, and Made.Thomas and Greg discuss the circumstances of the South Sea Bubble and how it connected to famous minds like Isaac Newton and Edmond Halley. They relate the financial crisis to other bubbles, like the 2007-2008 financial crisis. Thomas draws out the fascinating parts of what happened with the South Sea Bubble and what lessons can be learned from it and applied to today's financial markets.*unSILOed Podcast is produced by University FM.*Episode Quotes:Insights on the role of innovation and government purpose in bubbles33:51: The point of the bubble is that at the core of the bubble was a really good idea that actually served the government's purposes. In fact, served the government's purposes so well that one of the reasons you don't get joint stock companies going forward and in particular, you don't allow private companies to have access to the bond markets, the debt market, in the same way that the government has, is because the government wants to make sure it essentially has a monopoly on that form of finance so that it can continue executing its purposes. And you don't see a private bond market emerging, at least in Britain, until the second quarter of the 19th century.You can have truth in mathematics29:02: Mathematics is this sure and certain science. You can have truth in mathematics... The best that physics can be is demonstrated, and there's a difference. And so, if the mathematics work out, then, of course, this is a safe, sound, and perfectly acceptable way to spend your money until it isn't. So there's a rhetoric in the use of mathematical arguments that shouldn't be ignored. It was present in the 1720s bubble and in that era, and it was very much present recently.Humanities teach you to think about the future in ways that are simply useful01:01:24: If you try to train for the present, what you're doing is making sure that the future is going to catch you by surprise. And one of the things that the humanities do is teach you to think about the future in ways that are more flexible, more interesting, and, dare I say it, pragmatically, simply useful.A perspective on continuous evolution and profound shifts13:29: I see events as a continuous flow rather than as sudden, momentary revolutionary breakthroughs. But if ever there was a profoundly changing, rapidly changing sort of thing, you can experience it in your own lifetime. The late 17th century was remarkable.Show Links:Recommended Resources:Isaac NewtonEdmond HalleyCalculated Values by William DeringerThe South Sea Bubble of 1720The Financial Crisis of 2007-2008Tulip ManiaExchange AlleyHorace WalpoleGuest Profile:Faculty Profile at Massachusetts Institute of TechnologyThomas Levenson WebsiteThomas Levenson on LinkedInThomas Levenson on XHis Work:Money for Nothing: The Scientists, Fraudsters, and Corrupt Politicians Who Reinvented Money, Panicked a Nation, and Made the World RichMoney For Nothing: The South Sea Bubble and the Invention of Modern CapitalismThe Hunt for Vulcan: . . . And How Albert Einstein Destroyed a Planet, Discovered Relativity, and Deciphered the UniverseNewton and the Counterfeiter: The Unknown Detective Career of the World's Greatest ScientistEinstein in BerlinArticles from The AtlanticArticles from Aeon
Clay Finck completes his review of Howard Marks' book – Mastering the Market Cycle. This is a wonderful book for understanding market cycles and where we are at in the cycle at any given time. Most investors aren't aware of the cyclicality of markets and are prone to fall victim to greed and fear at the exact wrong times. Superior investors are aware of markets cycles, and position themselves to profit from them.IN THIS EPISODE YOU'LL LEARN:00:00 - Intro.01:33 - How Howard Marks thinks about the real estate cycle.13:02 - The three stages of a bull market and bear market.14:45 - Why cycles will continue indefinitely into the future.15:30 - How Isaac Newton lost a fortune in the South Sea Bubble in 1720.21:47 - The telltale sign to look for to almost be certain that you're in a market bubble.33:41 - Why ‘silver bullets' never pan out well for investors.45:05 - Why Oaktree thinks timing market bottoms is a fool's errand.47:13 - Why success can bring the seeds of failure for many investors, companies, and sectors.58:05 - Howard Marks's thoughts on where we are at in the market cycle in 2023.72:55 - How to know when is the appropriate time to position your portfolio aggressively and defensively.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out our newly released TIP Mastermind Community.Check out Part 1 of our review of Mastering the Market Cycle, or watch the video here.Howard Marks' book – Mastering the Market Cycle.Check out our recent episode covering Clay's review of Howard Marks' book – The Most Important Thing, or watch the video here.Check out our recent episode covering the 100 to 1 in the Stock Market by Thomas Phelps, or watch the video here.Related episode: Listen to TIP378: Move Forward With Caution w/ Howard Marks or watch the video here.Related episode: Listen to TIP545: The Third Sea Change Has Begun w/ Howard Marks or watch the video here.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts. P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSInvest in Bitcoin with confidence on River. It's the most secure way to buy Bitcoin with 100% full reserve custody and zero fees on recurring orders.Look good and feel good with True Classic‘s range of summer essentials, crafted with premium quality fabrics at an accessible price. Get 25% off today with the code WSB.Send, spend, and receive money around the world easily with Wise.Choose Toyota for your next vehicle – SUVs that are known for their reliability and longevity, making them a great investment. Plus, Toyotas now have more advanced technology than ever before, maximizing that investment with a comfortable and connected drive.Have the visibility and control you need to make better decisions faster with NetSuite's cloud financial system. Plus, take advantage of their unprecedented financing offer today – defer payments of a full NetSuite implementation. That's no payment and no interest for six months!Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Experience real language learning for real conversations with Babbel. Get 55% off your Babbel subscription today.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/european-studies
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices
The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds. Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public. Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter. Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives. Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and The Worlds of the Jeake Family of Rye, 1640-1736 (2018). References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/british-studies
The famous football club's owners, the Glazers, have put it up for sale for $7bn - or 10 times revenues. But instead of laughing out loud, several buyers are circling. With valuations at fever pitch. Neil (a Tranmere Rovers obsessive) and Jonathan talk to Kieran Maguire, football finance academic, about whether England's Premier League can sustain this sort of madness. Presented by Jonathan Ford and Neil Collins.With Kieran Maguire.Produced and edited by Nick Hilton for Podot.In association with Briefcase.News Hosted on Acast. See acast.com/privacy for more information.
This week Beau and Dan chat about two different financial bubbles from the past. The ‘Tulip Mania' of Holland in the seventeenth century, where the value of tulip bulbs became insanely inflated, only for the market to utterly crash overnight; and the legendary ‘South Sea Bubble' in the eighteenth century, which saw the first true crisis on the London exchange, ending in disaster for all concerned. A classic case of boom and bust. Can we learn lessons from these examples?
We're in the aftermath of an extraordinary bubble in cryptocurrencies and the collapse of FTX is a defining chapter of the industry's turmoil. But what does history tells us about the cycle of bubbles and busts? Which past manias are the most similar to what we've just seen? In this episode, we speak with Brad DeLong, an economic historian at the University of California at Berkeley, who is also the author of the new book, "Slouching Towards Utopia: An Economic History of the Twentieth Century." He explains how the FTX saga shares shocking similarities with the story of the South Sea Company, a British endeavor that was at the center of a massive mania of speculation in the early 1700s.See omnystudio.com/listener for privacy information.
Dr. Helen Paul bursts the South Sea Bubble, tracing the triangular trade of slavery between London and Britain's colonies in South Asia, Africa, and the Caribbean, via John Cleveley's 18th century painting, The Luxborough Galley on Fire. Sailing into the dark green waters of the mid-Atlantic Ocean, the Luxborough Galley is in imperilled. Consumed by flames, with no land in sight, its white passengers frantically firefight - to no avail. Commissioned by one of the ship's few survivors for display in Greenwich, John Cleveley's six oil paintings recast the story as one of British heroism - erasing the history of the South Sea Company's colonial profiteering, catastrophic South Sea Bubble of 1720, and scapegoating its enslaved Black passengers for carelessly causing the blaze. Still housed in the National Maritime Museum, on the southern bank of the River Thames, John Cleveley's rendering exposes London's vast investment into the international slave trade, linking British colonies across the world. By focussing on cannibalism, it unintentionally commemorates the inhumanity, lack of civislisation, and crimes against humanity committed by its white colonial benefactors. PRESENTER: Dr Helen Paul, lecturer in Economics and Economic History at the University of Southampton, and Honorary Associate Professor at the Bartlett School of Sustainable Construction at UCL. ART: The Luxborough Galley on Fire, 25 June 1727, John Cleveley the Elder (c. 18th Century). IMAGE: 'The 'Luxborough Galley' on fire, 25 June 1727'. SOUNDS: One Man Book. PRODUCER: Jelena Sofronijevic. Follow EMPIRE LINES at: twitter.com/jelsofron/status/1306563558063271936 Support EMPIRE LINES on Patreon: patreon.com/empirelines
In preparation for their 8th season, Paul and Mikey are too busy to bang out a new ep. Instead of missing a week, the guys thought they'd spoil you with an old favourite- the South Sea Bubble (18th Century).See omnystudio.com/listener for privacy information.
Episode 227: This is a clip taken from the full episode with Jack Pitts on March 15, 2022. In this clip, Jack talks about the historic lessons of the South Sea Bubble and Isaac Newton's historic failed pump & dump investment. Social MediaJack PittsTwitter: equitydiamondsLinkedin: John "Jack" PittsSLicktionary.com
The War of 1812: a memorable event in American history when the might of the British Empire was held at bay. But a fascinating part of the tale was the imprisonment of American POWs in Dartmoor Prison.I chat with Nicholas Guyatt, author of The Hated Cage: An American Tragedy in Britain's Most Terrifying Prison and in Part One, he sets the scene of the war, describe the life of Privateers, and the prisoners of Dartmoor.And yes, The Count of Monte Cristo was not published until 1844! If you haven't read it, do!Nicholas Guyatt LinksThe Hated CageAspects of History LinksRewriting the Second World War, by Sean McMeekinInterview with Thomas Levenson on the South Sea Bubble
Episode 129: Jack Pitts, a former hedge fund portfolio manager comes back on the podcast to talk about his prior experiences during the late 1990's as a hedge fund manager during the dot-com boom. Jack goes over some of the investments he was a part of such as Amazon, Expedia, PayPal and more. Jack also gives his take on historic lessons from classic bubble examples such as Tulipomania and the South Sea Bubble. BSV Global Blockchain Convention in Dubai on May 24-26, 2022Social MediaJack PittsTwitter: equitydiamondsLinkedin: John "Jack" PittsSLicktionary.comBooks mentioned in the podcast episode:Extraordinary Popular Delusions and The Madness of Crowd
Ricardo y Brenda siguen con su miniserie de Burbujas financieras y las crisis en las que derivaron. Este episodio habla de la empresa del Mar del Sur, donde la historia tiene ciertas similitudes con lo que vivimos en estos días. No te olvides agendar una asesoría personalizada de finanzas personales. El dinero no viene con instrucciones es un podcast de netWorth.mx
First published in 1841, Extraordinary Popular Delusions and the Madness of Crowds is often cited as the best book ever written about market psychology. This Harriman House edition includes Charles Mackay's account of the three infamous financial manias - John Law's Mississipi Scheme, the South Sea Bubble, and Tulipomania. Between the three of them, these historic episodes confirm that greed and fear have always been the driving forces of financial markets, and, furthermore, that being sensible and clever is no defence against the mesmeric allure of a popular craze with the wind behind it. In writing the history of the great financial manias, Charles Mackay proved himself a master chronicler of social as well as financial history. Blessed with a cast of characters that covered all the vices, gifted a passage of events which was inevitably heading for disaster, and with the benefit of hindsight, he produced a record that is at once a riveting thriller and absorbing historical document. A century and a half later, it is as vibrant and lurid as the day it was written. For modern-day investors, still reeling from the dotcom crash, the moral of the popular manias scarcely needs spelling out. When the next stock market bubble comes along, as it surely will, you are advised to recall the plight of some of the unfortunates on these pages, and avoid getting dragged under the wheels of the careering bandwagon yourself.
“I could calculate the motions of the heavenly stars, but not the madness of people.” Sir Isaac Newton With ‘Money’ becoming more liquid, and ‘The Market’ more fluid, investors in ‘The City’ searched far and wide for new opportunities. Mikey and Paul are hot on their heels - hoping to catch a glimpse of the bubbles before they burst. See omnystudio.com/listener for privacy information.
The title 'Prime Minister' used to be a term of abuse. To be honest, depending on the holder of the office, plenty of people would maintain it still is. The first person of whom it was used as a real title in Britain, even if still not officially, was Robert Walpole. We've already met him, as a man who did rather well out of the South Sea Bubble, if more by good luck than by good judgement. That and the support he offered some powerful people in the wake of the scandal around the bubble, above all the king himself, helped him into office: he was seen as a safe pair of hands. A reputation he did much to nurture and generally deserved. Illustration: Robert Walpole, First Earl of Oxford, by Arthur Pond, 1742 National Portrait Gallery 6085 Music: Bach Partita #2c by J Bu licensed under an Attribution-NonCommercial-No Derivatives (aka Music Sharing) 3.0 International License
Not all bubbles are all that bubbly. The South Sea Bubble made some people a lot of money - such as Isaac Newton, the physicist but also skilful financier - or a colossal amount of money - such as Thomas Guy, who founded Guy's Hospital, still one of England's great teaching hospitals. But it also ruined a lot of others. Rather like every bubble, down to the present day. This bubble also opened the door for a man who might sort the fallout so competently that not too many in the English elite would suffer badly. Which would make him Britain's first Prime Minister. Truly proving that even a financial disaster could make the fortune of some people... Illustration: Edward Matthew Ward, The South Sea Bubble, a Scene in ‘'Change Alley in 1720, Edward Matthew Ward. Presented by Robert Vernon 1847. Photo: Tate. Tate Reference: N00432. Creative Commons CC-BY-NC-ND (3.0 Unported) Music: Bach Partita #2c by J Bu licensed under an Attribution-NonCommercial-No Derivatives (aka Music Sharing) 3.0 International License
** Just in case we get blacklisted ** Please download Telegram from the App Store and join our channel for updates: https://t.me/dougcasey and join our email list: https://smith.substack.com/p/doug-cas... 0:00 Intro 3:04 Bitcoin as a transfer mechanism 5:31 Monero and the other cryptos 9:41 The tulip bubble 13:47 Mississippi Bubble & the South Sea Bubble 17:09 Florida Land bubble 18:42 The 1968 Stock Market Bubble 19:53 Japan Bubble, Dot-com Bubble, Real Estate Bubble and now today 21:08 Is this a genuine Bitcoin Bubble? 23:06 What about a deflationary collapse? 29:06 What's different about the bitcoin market compared to other asset classes? 37:14 Regulations and Bitcoin 40:30 Why do Gold Bugs like Peter Schiff hate Bitcoin? 46:09 Terra Incognita 51:55 A game of chicken
David McAlvany and Dr. Quinton Hennigh return. As we end the insanity of 2020, what might be in store for 2021? A growing number of proponents of Modern Monetary Theory (MMT) suggest that wealth can be created via central bank printing presses and computer key strokes. But a more primitive MMT policy was tried in John Law's South Sea Bubble with disastrous results. With history firmly demonstrating that there are no free lunches, why do economists and politicians insist this time its different? With COVID-19 accelerating growing levels of insolvency, what might be in store for stock, bond, commodity and precious metals markets in 2021 as massive numbers of bankruptcies appear on the horizon? We will ask David to opine and tell us how McAlvany Wealth Management is structuring its investments for the new year. Dr. Hennigh will update us on Lion One Metals' emerging worldclass alkaline gold deposit in Fiji.
Dan Oliver, Michael Oliver and Dr. Quinton Hennigh are this week's guests. Alasdair Macleod has often made the comparison of America's rapidly declining financial status with that of the French-originated South Sea Bubble. Similar to the U.S. stock market greed now, market greed in France ran unchecked until the system broke down. Then, for fear of his life, John Law the originator of the French get-rich-quick scheme had to sneak out of France disguised as a woman. But his partner Richard Cantillon, recognized the flaw in Law's dishonest scheme and sold short at the top of the market. The South Sea Bubble is clearly a warning to Americans to exit the current financial markets that are being fueled by the same Kool-Aid-drinking mentality as that of the 1720 South Sea Bubble. Michael returns to update us on his latest view on gold and silver and Quinton will update us on some amazing developments with Novo Resources in Western Australia.
Interview with Dr. Andrew Odlyzko (U. of Minnesota) about investment bubbles, the Nigerian prince scam's long history, and how to know when investors are gullible. 0:05 Intro 3:05 How a landscape painter arbitraged snooty aristocrats 6:40 Isaac Newton's stock losses (the real story) 11:50 the South Sea Bubble 21:28 Investment bubbles in history 25:43 the South sea bubble wasn't THAT crazy after all 29:45 An investment “of great advantage, but no-one to know what it is” 32:16 could we create a gullibility index? 33:48 the Nigerian prince scam pre-dates the internet 36:50 Why trust is key in bubbles 37:01 2 types of bubbles 40:31 Is failure good for society as a whole? 48:50 Conversations over coffee: explain what's important *Dr. Andrew Odlyzko is Professor of Mathematics at the University of Minnesota. *Find his most recent writings about Isaac Newton and the South Sea Bubble here: https://physicstoday.scitation.org/journal/pto *His website is here: http://www.dtc.umn.edu/~odlyzko/ *A list of his writings on financial history are here: http://www.dtc.umn.edu/~odlyzko/doc/bubbles.html
Ronald Peter Stöferle and Michael Oliver Return. Ewan Downie visits for the first time. Alasdair Macleod has warned that the Fed with its Modern Monetary Theory, (which isn't at all modern but reminiscent of the destructive South Sea Bubble orchestrated by John Law 100 years ago) is in the process of hyperinflating the dollar out of existence. The obvious substitute for rapidly depreciating currency is gold. Few people are better able to give us a sense of what is transpiring in the gold markets during this still dollar-centric global monetary system than Ronald. He is recognized internationally for his expertise in the world of gold. Ewan Downie who heads Premier Gold Mines will visit for the first time to help listeners understand about value that is very much unrecognized by the markets and Michael will offer his always astute Momentum and Structural analysis of the gold and other major markets.
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