Podcasts about south sea bubble

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Best podcasts about south sea bubble

Latest podcast episodes about south sea bubble

WPRV- Don Sowa's MoneyTalk
Ways to Catch Up

WPRV- Don Sowa's MoneyTalk

Play Episode Listen Later May 2, 2025 41:41


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.

BlomCast
[35] Trevor Jackson — Capitalism and the Impunity of the Elites

BlomCast

Play Episode Listen Later Apr 20, 2025 61:07


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? 

Desperate Acts of Capitalism Podcast
64: The South Sea Company

Desperate Acts of Capitalism Podcast

Play Episode Listen Later Feb 28, 2025 66:03


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

Patrick Boyle On Finance
The South Sea Bubble

Patrick Boyle On Finance

Play Episode Listen Later Jan 30, 2025 42:02


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

Mere Mortals
Financial Bubbles & The Crypto/AI Industry | Historical Signals That Will Repeat

Mere Mortals

Play Episode Listen Later Jan 26, 2025 78:26 Transcription Available


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

Mere Mortals Book Reviews
Speculation Across The Ages | Devil Take The Hindmost (Edward Chancellor) BOOK REVIEW

Mere Mortals Book Reviews

Play Episode Listen Later Jan 1, 2025 33:29 Transcription Available


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

WPRV- Don Sowa's MoneyTalk
Taking Advantage of Your HSA

WPRV- Don Sowa's MoneyTalk

Play Episode Listen Later Dec 13, 2024 41:57


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

Sleepy Time Tales Podcast – Creating a restful mindset through relaxing bedtime stories

Play Episode Listen Later Sep 16, 2024 40:23


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  

Parallel Mike Podcast
#77- Boom, Bust, Repeat: The Road To Technocracy

Parallel Mike Podcast

Play Episode Listen Later Sep 5, 2024 54:02


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

Grandma's Wealth Wisdom
Fad Fiction: What the Latest Financial Trends Really Do to a Financial Plan

Grandma's Wealth Wisdom

Play Episode Listen Later Aug 28, 2024 21:09 Transcription Available


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 

WPRV- Don Sowa's MoneyTalk
100 Years of Stock Returns

WPRV- Don Sowa's MoneyTalk

Play Episode Listen Later Jul 26, 2024 42:35


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.

EMPIRE LINES
Black Atlantic: Power, People, Resistance (2023) (EMPIRE LINES x Fitzwilliam Museum)

EMPIRE LINES

Play Episode Listen Later Sep 21, 2023 26:11


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

THE STANDARD Podcast
WEALTH HISTORY EP.44 South Sea Bubble ฟองสบู่แตกครั้งแรกในตลาดหุ้น

THE STANDARD Podcast

Play Episode Listen Later Sep 3, 2023 10:41


WEALTH HISTORY EP.44 นี้ ชวนพูดคุยถึงเหตุการณ์ฟองสบู่แตกครั้งแรกในประวัติศาสตร์ตลาดทุนโลก โดยเกิดขึ้นกับหุ้นของบริษัท South Sea ที่เทรดในตลาดหลักทรัพย์ลอนดอน ประเทศอังกฤษ ในปี 1720 เรื่องราวเป็นอย่างไร ติดตามได้กับโฮสต์ประจำรายการ วิทย์ สิทธิเวคิน

Heroes and Howlers
South Sea Bubble (18th Century)

Heroes and Howlers

Play Episode Listen Later Aug 28, 2023 22:43


“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.

unSILOed with Greg LaBlanc
323. Learning from the South Sea Bubble feat. Thomas Levenson

unSILOed with Greg LaBlanc

Play Episode Listen Later Aug 25, 2023 61:40


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

We Study Billionaires - The Investor’s Podcast Network
TIP562: How to Cope With Market Cycles

We Study Billionaires - The Investor’s Podcast Network

Play Episode Listen Later Jul 2, 2023 59:39


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.

New Books Network
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books Network

Play Episode Listen Later Jun 8, 2023 51:04


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

New Books in History
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books in History

Play Episode Listen Later Jun 8, 2023 51:04


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

New Books in Early Modern History
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books in Early Modern History

Play Episode Listen Later Jun 8, 2023 51:04


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

Princeton UP Ideas Podcast
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

Princeton UP Ideas Podcast

Play Episode Listen Later Jun 8, 2023 51:04


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

New Books in European Studies
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books in European Studies

Play Episode Listen Later Jun 8, 2023 51:04


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

New Books in Economics
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books in Economics

Play Episode Listen Later Jun 8, 2023 51:04


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

New Books in Economic and Business History
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books in Economic and Business History

Play Episode Listen Later Jun 8, 2023 51:04


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

New Books in Finance
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books in Finance

Play Episode Listen Later Jun 8, 2023 51:04


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

New Books in British Studies
Anne L. Murphy, "Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England" (Princeton UP, 2023)

New Books in British Studies

Play Episode Listen Later Jun 8, 2023 51:04


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

A Long Time In Finance
Man United and the Football South Sea Bubble

A Long Time In Finance

Play Episode Listen Later May 5, 2023 24:20


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.

The Podcast of the Lotus Eaters
PREVIEW: Epochs #95 | Historical Financial Crises

The Podcast of the Lotus Eaters

Play Episode Listen Later Feb 26, 2023 25:39


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?

Odd Lots
Brad DeLong on the FTX Collapse and the South Sea Bubble

Odd Lots

Play Episode Listen Later Dec 5, 2022 48:13


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.

EMPIRE LINES
The Luxborough Galley on Fire, 25 June 1727, John Cleveley the Elder (c. 18th Century)

EMPIRE LINES

Play Episode Listen Later Nov 10, 2022 16:36


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

Heroes and Howlers
Bubbles 2.0

Heroes and Howlers

Play Episode Listen Later Oct 3, 2022 22:58


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.

The Friendly Bear
227: Jack Pitts - Issac Newton Losing Everything During The South Sea Bubble

The Friendly Bear

Play Episode Listen Later Aug 20, 2022 7:54


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

Aspects of History
Nicholas Guyatt on the War of 1812 and the Massacre at Dartmoor Prison

Aspects of History

Play Episode Listen Later Apr 2, 2022 30:48


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

The Friendly Bear
129: Jack Pitts - Lessons from Tulipomania, South Sea Bubble & Dot-com Boom

The Friendly Bear

Play Episode Listen Later Mar 15, 2022 77:33


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

El Dinero No Viene Con Instrucciones
Miniserie de Burbujas, South Sea Bubble| 125

El Dinero No Viene Con Instrucciones

Play Episode Listen Later Mar 9, 2022 33:11


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

Knowledge = Power
Memoirs of Extraordinary Popular Delusions and the Madness of Crowds

Knowledge = Power

Play Episode Listen Later Mar 7, 2022 1621:10


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.

That Was Genius
A Jacket Made of Condoms and Geese (Stock Market Week) - That Was Genius Episode 133

That Was Genius

Play Episode Listen Later Feb 26, 2022 54:15


It's time to lean back and take stock(market), as we look at all things boom and bust. Tom kicks us off with a look at the Drunk Oil Trading Incident, and the Great Comic Book Bubble. Meanwhile Sam's been looking at Tulip Mania and the South Sea Bubble. Sorted. Next week's episode is a patron exclusive all about swearing, and it's an flipping blinder! Find it at patreon.com/thatwasgenius Subscribe and listen to us! Apple Music // Podbean // Overcast // Stitcher // TuneIn // Spotify Welcome to That Was Genius: Two blokes. An immature sense of humour. And 10,000 years of human civilisation. A weekly podcast looking at the weirder side of history. Join Sam Datta-Paulin (he likes history and lives in Britain) and Tom Berry (he also likes history and used to live in New Zealand but is now in the UK as well), for a weekly reflection on the bold, the brilliant... And the downright strange. From bizarre events and stories to equally odd inventions, barely a day goes by without something incredible (or incredibly stupid) happening around the world. We upload new episodes every Wednesday night/Thursday morning (UK time). Check us out on Facebook (and our Facebook group for memes and fun), Instagram, Twitter and via our website, and please do subscribe to us and leave us a review if you like what you hear!

Stuff You Missed in History Class
The South Sea Bubble

Stuff You Missed in History Class

Play Episode Listen Later Feb 7, 2022 45:27


In the early 18th century, Britain needed money. In 1711, the South Sea Company was established to try to manage this debt, and the heart of the debt consolidation the company arranged was a debt-for-equity swap that did NOT keep the nation from incurring more debt.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The John Batchelor Show
Turmoil in the markets. Jim McTague @ McTagueJ , @Mctague; , Former Washington Editor, Barron's

The John Batchelor Show

Play Episode Listen Later Jan 29, 2022 9:33


Photo:  The bursting of the South Sea Bubble and Mississippi Bubble in 1720 is regarded as the first modern financial crisis. Turmoil in the markets. Jim McTague @ McTagueJ , @Mctague; , Former Washington Editor, Barron's https://www.wsj.com/articles/behind-the-stock-market-turmoil-a-high-speed-investor-u-turn-11643305162 Jim McTague, @ McTagueJ , @Mctague; former Washington Editor, @Barrons Washington. 

The John Batchelor Show
The global recovery said to pull back in 2022. Liz Peek @TheHill

The John Batchelor Show

Play Episode Listen Later Dec 22, 2021 12:27


Photo:  The balance of credit   An eagle holds in his beak the beam of a pair of scales; Lord North, in profile to the left., and looking through his spy-glass, stands below, adding a document to the left. and lighter scale; the right. scale rests on the ground (or ocean) within an area inscribed 'The South Sea'. The l. beam of the scale is inscribed "1772", the right. beam "1720". On Lord North's l. scale, that of 1772, are documents inscribed 2Reduct. of Navy"; "Secret Com."; "Select Com."; North is adding one inscribed "Suspension of Supervision". The r. scale (empty) is inscribed "India Stock 00001". This is to show that the national credit in 1772 is even lower than at the time of the South Sea Bubble in 1720. The global recovery said to pull back in 2022. Liz Peek @TheHill  https://www.cnbc.com/2021/12/20/goldman-cuts-gdp-forecast-after-sen-manchin-says-he-wont-support-bidens-build-back-better-plan-.html

Histories of the Unexpected

In this latest episode, the Unexpected duo, Professor James Daybell and Dr Sam Willis are inspired by the blockbuster Netflix drama series Squid Game and dig deep into their pockets to discuss the unexpected history of DEBT! Which is all about the age of American Independence and character, morality and charity, debtors prisoner, the law and punishment (via Charles Dickens). It's about genealogy and discovering skeletons in closets (debtors in your family tree), economic bubbles (including the South Sea Bubble, and Tulipmania), King Croesus, tally sticks and the Roman views of ethics on the acquisition of art! Who knew! See acast.com/privacy for privacy and opt-out information.

Mises Media
China's Financial Bubbles Remind Us of Scams like Britain's South Sea Bubble

Mises Media

Play Episode Listen Later Nov 23, 2021


It never ends well: to clean up mountains of bad debts, the Chinese regime has employed debt-for-equity schemes that could leave countless ordinary investors in deep trouble. Original Article: "China's Financial Bubbles Remind Us of Scams like Britain's South Sea Bubble" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

Audio Mises Wire
China's Financial Bubbles Remind Us of Scams like Britain's South Sea Bubble

Audio Mises Wire

Play Episode Listen Later Nov 23, 2021


It never ends well: to clean up mountains of bad debts, the Chinese regime has employed debt-for-equity schemes that could leave countless ordinary investors in deep trouble. Original Article: "China's Financial Bubbles Remind Us of Scams like Britain's South Sea Bubble" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

Heroes and Howlers
South Sea Bubble (18th Century)

Heroes and Howlers

Play Episode Listen Later Oct 4, 2021 22:41


“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.

il posto delle parole
Gianluca Orazi #comecambialalingua

il posto delle parole

Play Episode Listen Later Sep 23, 2021 13:05


Gianluca Orazi#cambialalinguaSiamo noi che cambiamo le paroleZanichelli Editorehttps://www.zanichelli.it/Nelle piazze di sei città una grande installazione-vocabolario inviterà a scoprire come è cambiato in un secolo il significato di 50 paroleIn occasione del lancio dell'edizione 2022 del vocabolario Zingarelli, con l'iniziativa #cambialalingua la casa editrice Zanichelli mostra, attraverso un percorso scientifico di comparazione, l'evoluzione di 50 lemmi nelle varie edizioni dello Zingarelli dal 1922 al 2022.Per esempio:Bolla. Sullo Zingarelli del 1922 è il “rigonfiamento che fa l'acqua piovendo, o bollendo, o gorgogliando”, cui nel 1970 si aggiunge il significato figurato (“in una bolla di sapone”: nel nulla). Nel 1994 il vocabolario registra il riferimento alla livella a bolla d'aria (“in bolla”: perfettamente orizzontale); nell'edizione 2001 entrano la bolla speculativa, nel 2020 la bolla come “condizione di isolamento” e la bolla di filtraggio. Nel 2022, infine, bolla è, con significato figurato, “condizione di isolamento e protezione, specialmente per contrastare un possibile contagio e in riferimento a un gruppo”: bolla di squadra, reparto bolla di un ospedale.Coppia. Passa da "due cose o persone o bestie messe e considerate insieme per qualche fine" (Zingarelli 1922) a "due elementi della stessa specie considerati nel loro complesso" (2022), con l'ingresso, nell'edizione del 2000, delle coppie di fatto.Resistenza. Nell'edizione del 1922 era semplicemente la "forza del resistere, saldezza, fermezza" e il "contrasto contro l'assalitore". Dall'edizione dello Zingarelli del 1959 vengono citate la resistenza francese e italiana contro i tedeschi. L'edizione del 1970 la definisce come "movimento di lotta politico-militare sorto in tutti i paesi d'Europa contro i nazisti e i regimi da questi sostenuti durante la seconda guerra mondiale".Lo Zingarelli accoglie parole nuove - i neologismi veri e propri, sia di normale derivazione italiana sia forestierismi. Non solo: aggiorna le parole già presenti, con l'inserimento di nuovi significati e nuovi modi di dire che riflettono cambiamenti del linguaggio consolidati nel corso del tempo. Come un notaio, il vocabolario attesta e testimonia; non giudica e non delibera.Con #cambialalingua Zanichelli continua a promuovere la consapevolezza della nostra lingua con iniziative che coinvolgono in modo inedito il pubblico. Siamo noi infatti che cambiamo l'italiano mentre parliamo e scriviamo, modificando i significati delle parole e inventando nuovi modi di dire. Abbiamo quindi una responsabilità individuale e collettiva sulla nostra lingua.Nelle piazze di Torino, Milano, Padova, Forlì, Roma e Lecce un grande vocabolario interattivo di 4 metri per 3, con un monitor touch screen inviterà a scoprire la storia di queste parole (ad esempio "coppia", "resistenza", …) che riflette il cambiamento dei modi di vivere, delle leggi e delle tecnologie. Chi si presenterà in una delle sei piazze davanti al grande vocabolario interattivo potrà farsi scattare e ricevere una fotografia istantanea accanto al vocabolario o a una delle definizioni evidenziate sul monitor, proporre un significato diverso e condividerlo con l'hashtag #cambialalingua.Il progetto offre un'ulteriore chiave di lettura sull'evoluzione delle parole grazie alla collaborazione con lo scrittore Marco Balzano, che per ogni parola ha scritto un breve testo che ne riassume e interpreta la storia.Bolla. Il nostro mondo si sta riempiendo di bolle. Se prima era semplicemente un “rigonfiamento” di forma circolare e una metafora per indicare un'intenzione caduta nel vuoto (è finito tutto in una bolla di sapone), ora c'è molto di più. Chi vive isolato per lungo tempo vive in una bolla; chi perde i suoi investimenti in borsa è vittima di una bolla speculativa, espressione calcata sull'inglese South Sea Bubble, il crollo finanziario della Compagnia dei Mari del Sud nel 1720. E si potrebbe continuare con la bolla immobiliare o con quella di filtraggio, che avviene ogni volta che il web seleziona le informazioni al fine di orientare i nostri consumi e le nostre opinioni. Coppia. Per fare coppia bisogna avere qualcosa in comune. Una coppia di cavalli, per esempio, è tale perché appartengono alla stessa specie; ma un gallo e un cavallo possono formare una coppia in nome del loro genere, quello animale. E un uomo e un cavallo non sono forse una coppia di viventi? E si potrebbe continuare. Il vocabolario di un secolo fa specificava che si tratta di due persone di sesso diverso unite tra loro da un rapporto matrimoniale o amoroso, ma nell'edizione del 1997 cadono la distinzione fra i sessi e il riferimento al matrimonio, si parla, infatti, di due persone unite fra loro da un rapporto amoroso. Il significato che vince e supera il tempo è quello più assoluto di unione. Come a dire che gli elementi in comune sta a noi crearli e sta sempre a noi individuarli negli altri.Resistenza. Parola statica e inerte, che indica un attrito, un contrasto e un'opposizione. Anche i virus e i batteri, col tempo, possono diventare resistenti, per esempio all'ambiente o a un antibiotico, trovando le risorse per sopravvivergli. È su queste basi – fisiche, meccaniche e mediche – che nasce il termine storico “Resistenza”, che compare dalle edizioni del secondo Dopoguerra per indicare un “movimento di lotta politico militare sorto in tutti i paesi d'Europa contro il nazifascismo”. Gli uomini che hanno fatto la Resistenza, così, hanno trasformato quella parola statica in dinamica, perché chi si opponeva nello stesso tempo progettava un mondo nuovo, opposto a quello razzista e sanguinario della dittatura. Marco Balzano è nato a Milano nel 1978. Oltre a raccolte di poesie e saggi, ha pubblicato nel 2010 il suo primo romanzo Il figlio del figlio (Avagliano, poi Sellerio 2016), seguito da Pronti a tutte le partenze (2013) e L'ultimo arrivato (2014), entrambi per Sellerio. Con quest'ultimo ha vinto nel 2015 il Premio Campiello. Per Einaudi è uscito nel 2018 Resto qui, finalista al Premio Strega e vincitore del Premio Bagutta e del Prix Méditerranée in Francia. Il suo romanzo più recente è Quando tornerò, pubblicato nel 2021 sempre da Einaudi. Le sue opere narrative sono state tradotte con grande successo in trenta paesi. Ha condotto su LaF la trasmissione Prof. La scuola siamo noi e per Audible e Feltrinelli il podcast La storia delle storie, sulla nascita del linguaggio e della scrittura. Collabora con le pagine culturali del Corriere della Sera. Balzano si è segnalato inoltre per la sua opera saggistica Le parole sono importanti. Dove nascono e cosa raccontano, pubblicata da Einaudi nel 2019 e poi in versione audio da Emons nel 2021, con la collaborazione di dieci fra i più importanti attori italiani. Con quest'opera, l'autore ha avviato un originale e brillante percorso di approfondimento sul tema delle “parole” che prosegue tuttora attraverso vari articoli, interventi e incontri con il pubblico.APPUNTAMENTI #CAMBIALALINGUA- 22 - 29 settembre: Milano, via Statuto 18 angolo Moscova- 30 - 07 settembre/ottobre: Padova, piazzetta Garzeria - 14 - 18 ottobre: Torino, Salone del Libro, stand Zanichelli- 22 – 27 ottobre: Forlì, piazza San Domenico- 28 – 03 ottobre/novembre: Roma, via Cola di Rienzo- 04 – 11 novembre: Lecce, piazza Sant'Oronzo IL POSTO DELLEL PAROLEascoltare fa pensarehttps://ilpostodelleparole.it/

Placecloud: Stories of Place
Jonathan’s Coffee House: a financial revolution

Placecloud: Stories of Place

Play Episode Listen Later Aug 27, 2021 13:18


Jonathan's Coffee House was at the heart of what has been dubbed ‘the financial revolution' in late seventeenth-century London. It was home to the stock-jobbers, the scene of the 1720 South Sea Bubble, and the beginning of London's Stock Exchange.

A History of England
44. The Prime Minister

A History of England

Play Episode Listen Later Jun 22, 2021 10:08


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

A History of England
43. Bubble

A History of England

Play Episode Listen Later Jun 17, 2021 10:40


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

Buffetting with Kass and Mitch
Are we in a meme-stock crypto bubble & what can we do about it? Plus some thoughts on the overlap of religion and investing...

Buffetting with Kass and Mitch

Play Episode Listen Later May 31, 2021 41:53


Gaming nerds are duelling hedge funds on the stock market battlefield. Everyone's mother knows what a SPAC is. Stocks are now called Stonks and they can only go up. Friends you've once bored with investing talk are now calling you with their hot stock tips of the week. Spiffy pops are a daily occurrence and intelligent value investing is apparently dead. Is this whole new world of Bizarre here to stay, or could this time really be different? We're going to go out on a limb here and suggest that in reality, what we're actually experiencing is the ‘2020's meme-stock/crypto bubble'.The bubble phenomenon is age old and repetitious, so much so that it seems to be ingrained in the human condition. From Tulip Mania in the 1600's, South Sea Bubble of the 1700's, Railway Bubble of the 1800's and take your pick from the bubbles of the 1900's. Many bubbles have been and gone, lessons learnt by one generation and then forgotten by the next. The questions we ponder in this conversation are:- What is a bubble and what are the signs were in one?- How should you be investing in a bubble?- How do you find investment opportunities in a bubble?- How can you protect your capital?- What lessons can we learn from the greatest investors in history?- How did the best investors operate during bubbles?- How can you hedge your portfolio against inflation risk?- Sir Templeton took us off on a religion tangent from 34min onward...We really hope you enjoy the discussion and look forward to sharing more entertaining and (hopefully!) helpful content with you in 2021 and beyond. For more content you can find us on the links below:Twitter:@mitch_dol@kassia_dolYoutube:"Buffetting with Kass & Mitch"FB/Insta:@buffettingkassmitchAlways remember - We are not your financial advisors and none of our content should be used as investment advice. We are private investors and all comments are our personal opinions.

Gresham College Lectures
The South Sea Bubble of 1720

Gresham College Lectures

Play Episode Listen Later Apr 6, 2021 48:43


Gresham College Lectures
The South Sea Bubble of 1720

Gresham College Lectures

Play Episode Listen Later Mar 30, 2021 48:46


The London stock market boomed and crashed in 1720. The financial bubble is known to posterity as the South Sea Bubble. In the three hundred years since, the bubble has been much misunderstood - this lecture separates fact from myth and aims to move beyond simplistic ideas of "gambling mania".A lecture by Dr Helen Paul 30 MarchThe transcript and downloadable versions of the lecture are available from the Gresham College website: https://www.gresham.ac.uk/lectures-and-events/south-sea-bubbleGresham College has been giving free public lectures since 1597. This tradition continues today with all of our five or so public lectures a week being made available for free download from our website. There are currently over 2,000 lectures free to access or download from the website.Website: http://www.gresham.ac.uk Twitter: http://twitter.com/GreshamCollege Facebook: https://www.facebook.com/greshamcollege Instagram: http://www.instagram.com/greshamcollege

The FS Club Podcast
Money For Nothing - The Making & Unmaking Of Modern Finance

The FS Club Podcast

Play Episode Listen Later Mar 1, 2021 49:51


Find out more on our website: https://bit.ly/3zf589F Longlisted for The Financial Times and McKinsey business book of the year award, Money for Nothing dives into the most famous financial scandal in the history of modern capitalism, the South Sea Bubble. The South Sea Company had been formed to trade with Spanish America. But it had almost no ships and did precious little trade. Instead it got into financial gambles on a massive scale, taking over the government's debt and promising to pay the state out of the money received from the shares it sold. And how they sold. In the summer of 1720 the share price rocketed and everyone was making money. Until the carousel stopped, and thousands lost their shirts. This account of the South Sea Bubble is not just the story of a huge scam, but is also the story of the birth of modern financial capitalism. These dreamers and fraudsters may have bankrupted Britain, but they made the world rich. Speaker: Tom Levenson is Professor of Science Writing at the Massachusetts Institute of Technology, teaching mostly in the Graduate Program in Science Writing. He has recently published his newest book, Money for Nothing, June, 2020, on the South Sea Bubble, the Scientific Revolution, and the birth of the modern idea of money. Levenson's career has been split between writing, mostly long-form but including some science journalism, and documentary film making, emphasizing books for the last decade. One of his most recent work is The Hunt for Vulcan, (Random House, 2015), short-listed for the Royal Society's science book award. It's a cautionary tale of the discovery and undiscovery of a planet that should have been there, but wasn't. His Newton and the Counterfeiter (Houghton Mifflin Harcourt, 2009) centers on Isaac Newton's second career as a real-world scientific detective. Einstein in Berlin, (Bantam, 2003, reissued in 2017 by Random House in its first electronic book), is a critically acclaimed account of Albert Einstein's eighteen years in the German capital.

RenMac Off-Script
RenMac Legends: Anatomy of the South Sea Bubble with Prof. Odlyzko

RenMac Off-Script

Play Episode Listen Later Feb 27, 2021 53:36


300 years ago in London, the South Sea Bubble was deflating. It created vast fortunes for a few like Thomas Guy who used it to establish the eponymous Hospital in London, and financial disaster for other like Sir Isaac Newton who was lured back into the waters only to lose a fortune for himself and others. Professor Andrew Odlyzko from the University of Minnesota has studied the South Sea Bubble, what was happening, its characteristics and what we can learn from it, here's our conversation.....

Opto Sessions: Stock market | Investing | Trading | Stocks & Shares | Finance | Business | Entrepreneurship | ETF
#47 Trevor Neil - GameStop, Average Joe's vs. Big Money & The Madness of Crowds

Opto Sessions: Stock market | Investing | Trading | Stocks & Shares | Finance | Business | Entrepreneurship | ETF

Play Episode Listen Later Feb 11, 2021 112:26


Today I welcome back Trevor Neil, a trader for over 50 years having started out trading commodities with Merrill Lynch in the mid 1970's. We first spoke in April last year, and Trevor has since appeared on the show to discuss his innovative, new trading product, the RRG UK Momentum+ - links to both of these interviews can be found below.During today's episode, we discuss the market mania surrounding GameStop, the relationship between a rapidly growing group of ‘Average Joe' traders and their Big Money counterparts, as well as the ‘madness of crowds', and whether similarities exist between this latest phenomenon and events like the South Sea Bubble. Hope you enjoy the episode!My interview with Trevor back in April 2020:https://podcasts.apple.com/gb/podcast/3-trevor-neil-v-shaped-market-revival-next-big-thing/id1504694129?i=1000471076493And Trevor's more recent appearance, can be found here: https://podcasts.apple.com/gb/podcast/44-trevor-neil-exclusive-the-rrg-uk-momentum/id1504694129?i=1000506056412 Want further Opto insights? Check out our daily newsletter: https://www.cmcmarkets.com/en-gb/opto/newsletter 

The Deal
Drinks With The Deal: MIT's Will Deringer

The Deal

Play Episode Listen Later Jan 28, 2021 39:56


MIT historian of finance Will Deringer talks about what he learned from his time as a Blackstone analyst, Michael Milken and early spreadsheet programs, the South Sea Bubble and the many uses of present value in this week's episode of Drinks With The Deal.

Resolve's Gestalt University
ReSolve Riffs on 'Bubbles, Manias & Fraud' with Jamie Catherwood

Resolve's Gestalt University

Play Episode Listen Later Dec 23, 2020 76:14


This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. 2020 has been a year like no other in living memory. Though the global pandemic has obviously been the most important story of the year (and quite possibly of a generation), stocks have rallied to new all-time highs, companies have raised record amounts of capital and the technology sector has minted a handful of TRILLION-dollar firms. Though some investors find this fitting with the ‘new normal’, others are convinced this is the ‘mother of all bubbles’. To make sense of these unusual times, there’s nothing like a good dose of historical perspective. For the final show of the year, financial historian Jamie Catherwood (O'Shaughnessy Asset Management & Investor Amnesia) joined us for a great conversation that included: The origins of capital markets and its countless manias The South Sea Bubble, John Law and the Mississippi Company Why the history of the Dutch Tulip Mania has been widely exaggerated Charlie Munger’s three I’s – innovators, imitators and idiots How wars invariably lead to periods of low interest rates (and eventually bubbles) Yield-seeking in the 18th and 19th century – and plenty of sovereign debt defaults Jamie shared numerous interesting anecdotes that seem to draw clear parallels to the current environment – which has been described by some as ‘the golden age of fraud’. You can find more of these in his new course. Happy Holidays! Thank you for watching and listening. See you in January.

Turning Hard Times into Good Times
Reducing Investment Risk amidst Increasing Chaos

Turning Hard Times into Good Times

Play Episode Listen Later Dec 1, 2020 58:08


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.

Turning Hard Times into Good Times
Reducing Investment Risk amidst Increasing Chaos

Turning Hard Times into Good Times

Play Episode Listen Later Dec 1, 2020 60:00


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.

London History
27. The South Sea Bubble

London History

Play Episode Listen Later Oct 22, 2020 21:44


London's history has been punctuated by financial crises such as the dot com bubble and the 2008 Crash. But perhaps one of the most famous crisis in London was The South Sea Bubble in 1720. Let's get to the bottom of this early 18th century crises with City of London Tour Guide, Ian McDiarmid and London Tour Guide, Hazel Baker. Learn things about London that most Londoners don't even know in a 20 minute espresso shot episode of London history with a splash of personality. There's so much we can't fit into our tours, no matter how hard we try. This London history podcast is where we can get down and dirty with the detail! You're not going to find this level of detail in any guidebook. Let us know if there's a particular person, event or place you want to know more about in our podcast. Send us your suggestion / request. Rate, Review & Subscribe on Apple Podcasts. Show notes, including transcript, photos and recommended reading: www.londonguidedwalks.co.uk/027-the-south-sea-bubble --- Send in a voice message: https://anchor.fm/londonguidedwalks/message

Versus History Podcast
Versus History #101 - Tom Levenson & 'Money for Nothing' - The South Sea Bubble of 1720

Versus History Podcast

Play Episode Listen Later Sep 11, 2020 51:49


In this episode of the @VersusHistory Podcast, we are delighted to interview Thomas Levenson, Professor of Science Writing at the Massachusetts Institute of Technology (MIT). His new book ‘Money for Nothing' is the remarkable tale of the world’s first-ever financial crash, which took place 300 years ago, in the year 1720. It tells the captivating stories of a host of entertaining characters who became caught up in the world’s first financial bubble; with luminaries such as Daniel Defoe, Alexander Pope and even Isaac Newton losing out in a scheme that was ‘too good to be true’. ‘Money for Nothing’ explores how the scientific revolution extended to matters far beyond the flight of a cannonball or the dynamics of the tides, extending into the idea that empiricism and maths could make sense of everyday life; and how the invention of modern ideas about money both made the world rich and expose us to predictable hazards that we have, to date, three centuries on, failed to fully prepare for. The South Sea Company was formed to monopolize trade with Spain’s American colonies. But it had almost no ships and did precious little trade. So it turned its hand to playing money games, until, in 1720, it launched the first great stock market boom, fraud and bust, in what is now remembered as the South Sea Bubble. The financial engineering pioneered in the Bubble didn’t go away. Instead, it evolved into the same kinds of market manipulation that brought the world’s economy crashing down in 2008. In the moment, though, it all seemed to work brilliantly. Exactly 300 years ago, in June 1720, South Sea shares hit their peak, a ten-fold gain. Britain’s punters—up to and including the King’s mistresses—had grown incredibly, impossibly rich—on paper. And then the carousel stopped and thousands lost their shirts. Isaac Newton, the Duke of Portland (England’s richest man) and others lost heavily. Tom Levenson's superb account of the South Sea bubble dissects that huge scam—but that tale isn’t just a disaster story. It is also the story of the birth of modern financial capitalism: the idea that you can invest in future prosperity and that governments can borrow money to make things happen, like funding the rise of British naval and mercantile power. These dreamers and fraudsters may have ruined Britons, but they made the world rich. For terms of use, please visit www.versushistory.com

Boom & Bust
The South Sea Bubble, Part 2: Knight Flight and Cover Up.

Boom & Bust

Play Episode Listen Later Sep 9, 2020 42:12


In this episode, we cover the implosion of the South Sea Co. amid an outbreak of the plague in France, and put it into its context internationally. The affair threatened the throne of George I and prompted a frantic cover-up on the part of the government after the man who was potentially a star witness fled with a green-covered ledger containing the names of those who'd benefitted illicitly. The affair was also the key to the return to the top of Robert Walpole, who used it to devastating effect.

Travels Through Time
Money for Nothing in the South Sea Bubble: Thomas Levenson (1720)

Travels Through Time

Play Episode Listen Later Aug 25, 2020 49:57


In this episode of Travels Through Time, the writer Thomas Levenson guides us back to the scene of one the first and most devastating of all stock market crashes, an event that traumatised Georgian Britain: the South Sea Bubble. The subject matter, the scenes and characters that feature in this episode come from Levenson's new book, Money for Nothing. Much more information is to be found at tttpodcast.com Thomas Levenson is Professor of Science Writing at the Massachusetts Institute of Technology. Show notes Scene One: 22 January, 1720: John Aislabie, Chancellor of the Exchequer, rises in the House of Commons to present the South Sea deal to the members. Scene Two: A Sunday in May, 1720. Daniel Defoe goes to church and witnesses the ‘South Sea’ hysteria. Scene Three: 20 December, 1720, the House of Commons. Robert Walpole decides the fate of the speculators. Memento: A pocket watch made in the year 1720 People/Social Presenter: Peter Moore Guest: Thomas Levenson Editorial: Artemis Irvine Producers: Maria Nolan Titles: Jon O Follow us on Twitter: @tttpodcast_ Podcast Partner: ColorGraph So much more at: tttpodcast.com

Boom & Bust
The South Sea Bubble, Part 1: The Hollow Sword Blade Company

Boom & Bust

Play Episode Listen Later Aug 24, 2020 35:05


John Blunt, Robert Knight and their associates used the Hollow Sword Blade Co. as the vehicle driving the South Sea Co., an entity that was set up to rationalize the British government's debts but which turned into a gigantic fraud that almost brought down the ruling dynasty. The story is well known but how many people know what really happened and how it all blew up? Join me as we find out what really went down and try to put some flesh on the bones of a story of financial greed and political ineptitude.

The English Heritage Podcast
Episode 71 - When the bubble burst: The South Sea Company stock market crash

The English Heritage Podcast

Play Episode Listen Later Aug 6, 2020 43:56


This week we're marking 300 years since one of the most infamous stock market crashes in English history. It was a bubble fuelled by wild speculation and driven by dubious morals – and a bubble which ruined the fortunes of many investors, including some whose estates are now cared for by English Heritage. Joining us to discuss the South Sea Company stock market bubble – and crash – are properties historians team leader Dr Andrew Hann and Dr Helen Paul, who's a Lecturer in Economics and Economic History at the University of Southampton. To learn about the impact of the South Sea Bubble at Brodsworth Hall and Gardens in South Yorkshire, go to www.english-heritage.org.uk/visit/places/brodsworth-hall-and-gardens/history

Turning Hard Times into Good Times

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.

Talking Real Money
Bubbles Always Burst

Talking Real Money

Play Episode Listen Later Jul 20, 2020 38:18


In this episode we look back at past financial bubbles from the South Sea Crisis of 300 years ago to the real estate bubble of 2008.What are some of the better options for estate planning?Does it make sense to invest in a list of market sectors?The big question: What should you be doing with your money, now?

Dead People's Money
Investment Bubbles in History: Interview with Dr. Andrew Odlyzko

Dead People's Money

Play Episode Listen Later Jun 30, 2020 52:34


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

Turning Hard Times Into Good Times
What is The Future of the Dollar System & Gold?

Turning Hard Times Into Good Times

Play Episode Listen Later Apr 15, 2020 56:24


Ronald Peter Stöferle and Michael Oliver Return while Ewan Downie is a first-time guest.  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 […]

Turning Hard Times into Good Times
What is The Future of the Dollar System & Gold?

Turning Hard Times into Good Times

Play Episode Listen Later Apr 14, 2020 56:24


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.

TalkingTrading
Trading Five Percenters

TalkingTrading

Play Episode Listen Later Mar 16, 2020 22:36


Gil Ben Hur on being Zen in the markets and key mental tools. Chris Tate on the nature of mania and The South Sea Bubble. Gil Ben Hur Gil and I had a fantastic conversation on managing risk in an unexpected environment and key mental tools to use when trading. Ever felt taking losses in trading is almost an inhuman task? Gil explains the psychology behind it (12.15 mins) and how we are all trained to be winners in life. At (16.25mins) we talk on the hardest challenges for traders who work from home and don’t have the advantage of a professional trading environment. Traders have to be prepared to not know the outcome of their trades every day and that darn thing called the human ego gets in the way. Gil then describes some key attributes of successful traders (17.45 mins). You will love this part. Gil says good traders are egoless, they have a ZEN personality, they have self-awareness, they are sensitive to the waves of the market they are riding, they are effective listeners of the market, and they approach the market with calmness and patience. To find out more about Gil and The5ers trading and growth program go to: www.the5ers.com.  Gil offers a program for traders who feel mature and ready to trade as professionals and for a fund.   Chris Tate - South Sea Bubble With Corona Virus on the war path, Chris Tate takes a look at the history of mania and busts and the South Sea Bubble.           Louise Bedford - Unsung Hero Our unsung hero today is Angus Mitchell. Angus has had an amazing career as medico but he has never relied on the halo effect in his trading, consequently, he has developed an effective side hustle and a spring in his step.      

Finance & Fury Podcast
Lessons from the past – The South Sea Bubble and the early days of financial alchemy!

Finance & Fury Podcast

Play Episode Listen Later Feb 13, 2020 21:26


Welcome to Finance and Fury, The Furious Friday Edition Today - Lesson from the past – Story of Financial alchemy in its early days Specifically – turning debt into equity – i.e. financial alchemy Story Starts - In 1700s the English Crown had amassed massive debts – all from fighting wars with the French and Spanish, also a massive civil war – along with colonialist intentions – When in August 1710 Robert Harley was appointed Chancellor of the Exchequer Position - senior official within the Government of the United Kingdom and head of Her Majesty's Treasury When he took over – got a bit of a shock - £5,000 in assets - £9,000,000 in debt – to give an idea of this size – that debt is still being paid down – last announcement in 2015 Politically – things were also a mess - At the time – two parties – Tory’s and the Wigs – very bipartisan who couldn’t get anything done – raising taxes to pay this was out – so turned to the Bank of England The government had already become reliant on the Bank of England – back then up until around 30 years ago - a privately owned company BOE was chartered in 1694 – chartered 16 years previously by the Wigs, which had obtained a monopoly as the lender to Westminster - in return for arranging and managing loans to the government But in this time period – the Tory party was in power – so the Wig controlled BOE was offering massive rates – and the government had become dissatisfied with the service it was receiving and Harley was actively seeking new ways to improve the national finances Couldn’t raise funds from other European nations – was at war with most – so turned to John Blunt – was a crafty man Blunt saw this as an opportunity to make himself filthy rich – dreamed up a scheme – Back Story on Blunt - Before this moment in time – Blunt had a company Hallow Sword Company – monopoly of selling swords to Gov and the army – Cooked up a scheme in the past – wanted to buy land in Ireland which was owned by the government – but needed funds – so he had a plan – trade share in hallow sword company at under market value for army debentures (debt) – but can’t repossess the debentures – so made them technically worthless – but knew that the offer to do a swap at under market value would be massively in demand – and increase the price of the army debentures – so before he announced this scheme – he went out and bought massive amounts of these army debentures – Then he announced so the value of the debentures went through the roof due to people trying to get them to trade for his companies shares – then could trade the technically worthless debentures back to the government for the land that he wanted in Ireland – this was technically illegal – but he was lending the government money – so no action was taken in the end Similar to the bankers doing swaps on CDOs in the GCF – anyway As blunt was helping the government – Harley had his man – as he needed funds – Came up with the South Sea Company  (officially The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America, and for the encouragement of fishing) Was a British joint-stock company founded in 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt How? Made a plan – the trading company – Scheme would be similar to what blunt did with his own company – Anyone who held Government debt would be able to trade the debt for shares in the SSC – then Government would pay the SSC 6% interest on the debt they took over – about £500,000 p.a. To make it enticing - South Seas Co was given monopoly on trading in south seas – and tried to get hype around the shares - convincing that the shares in the company were going to skyrocket – here was a chance to make millions – the term millionaire was coined in this time period with the SSC stock rising – which happens later in the story East India Company was doing well – and public perception was that the SSC company was going to boom like the EI company But the promise of the trading profits of the SSC was a scam though – South America was run by the French and the Spanish who the British were at war with – needed peace – but the majority in the house of lords didn’t want this Queen Anne was approached by Harley and Blunt – and got 12 more lords in the house of lords – lords was all it took – no voting – blunt got Queen Anne to push through these lords to get a majority vote for peace – but the peace deal only let 1 ship a year into the ports – but the public was never told – Had famous authors and others push the scheme still 1714 – King George took over with Anne’s death – But the wigs took over at the same time – so Tory’s no longer in power – and Harley was kicked out – so Blunt took action - Got the king to invest into SSC – forgave two years worth of interest payments that they owed – but in return – was allowed to issue more shares in the SSC 10,000,000 of new stock was issues – which was massive – half the size of all the companies shares in the whole of Britain – this on a company that to date- had only lost money on trading This Convinced the government to continue to offload more government debt to the company – as they now had more shares to offset it – Put in perspective – say today that one company was half the size of the ASX but with no income (only losses) – the Government just turned around and made it bigger by trading more of their debt with it (Government bonds) 1717 – King became the SSC leader – company became too big to fail – if the company failed - prestige would fail – From around 1719 – the shares in the SSC started rising £100 to £114 pretty quickly – the previous agreement was that the market cap (number of shares to the share price) had to be equivalent to the government debt – £100 of equity for £100 of debt – almost the same to banks today – look at their financial sheets – the assets and liability offsets But at a £14 difference in price rise – the company could sell these shares at a profit and pocket the difference – as with this price rise they didn’t take on any new debt Gave Blunt ideas – the company still wasn’t making money remember – Now decided to take on the £31,000,000 debt the government racked up by 1719 – if successful – make the SCC he biggest financial institution in the world – But Needed to convince the Gov to let them take over the debt – so to convince in this case was to bribe – with about $2m each today worth of bribes – But still wasn’t enough – as the BOE was also another contender to sell the debts to and the Wigs were favouring this - so offered them shares in the SSC –– In the end – SSC got the rights to consolidate the government’s debt – Share swaps took place But the effects of public officials getting into the shares and King George taking over leadership of the company gave the public the perception that the shares must be a good thing - a lot of confidence in the shares Within a few months the share price rose to £330 – but the next month the shares went down to £310 – which wasn’t good news – remember – this company didn’t make money – the only way to make money for investors was a price rise from speculation – or more irrational purchases – The share price couldn’t decline otherwise the scam would be up – So Blunt Came up with a new scheme – buy the shares with 20% down and regular payments every 2 months (similar to how warrants work today) – created leverage on leverage – allowed people to buy way more than they could afford – Could buy 5 times the number of shares today with only 20% down But as long as stock prices went up – people could sell a small amount every 2 months to fund their next repayment on the shares – the amount of leverage went to on average 5 times the amount of shares compared to the money they had in the bank Created further greed in the market - When people profited or others felling like the missed out – they bought more stock The new scheme worked - Price quickly rose to £550 – but then soon after prices dropped again to £510 – Remember – this cant happen otherwise the scheme would go bust – very leveraged and driven by greed – if people saw the price go down then people may stop buying Blunt came up with the Next scheme – Loan people the money to buy the shares – loans from SSC to individuals – then they would buy their own shares back off them and push the prices higher Prices went to £600 – seeing this – people wanted to get in – greed took over rational sense – even Isaac Newton wanted to get in – buying massive amounts of shares – about £20,000 worth which he lost in the end All of this had another unintended effect/consequence – others started their own share scheme – started popping up everywhere – crazy ones – like flying machines – so money going into SSC started to cease – as other schemes which people thought could make them more money instead were starting to take off – Similar to Crypto – BTC did so well so others pumped money into it – then all of a sudden new coins emerged – so the money started to flow into these as well But in England at the time – not enough money in the whole country to prop up prices – so the Bubble Act was put into place in 1720 – which forbade the creation of joint-stock companies without a royal charter, was promoted by the South Sea Company itself before its collapse. Essentially the banning of every other scheme except the SSC – but due to this act – had opposite effect – which was those who invested in the now banned schemes lost their money - so had to sell their SSC stock to make it up – as they were otherwise broke Prices initially Dropped for the SSC - But no rivals on the market – so shares in one week went from £503 to £830 due to removal of other share schemes – But remember – this company was highly leveraged – not making any money – company valued at £300,000,000 – almost 10 times the size of the £31,000,000 pounds of government debt that the valuation should have been based around – all the money in Britain was around £60,000,000 – Based around current markets – would be $85trillion USD – which sounds huge – but derivative exposure dwarves this today All of a sudden – prices started to decline – so blunt started to issues more shares- at £1000 per share – offering more incentives – 10% upfront with no payments for a year – Hype was so strong – sold straight away – those who bought early made massive amounts of money It was at this point that Blunt and a lot of politicians then he sold off a lot of their shares – the bubble was about to burst – The top of the market at £1,000 – created a massive sale for profit taking – those who bought the shares with 20% down at £500 – or earlier What broke the bubble – Blunt offered a 30% p.a. dividend – which woke up the people – losing confidence – fell hundreds of pounds – In 3 weeks – went from over £1,000 to £150 – bankruptcies and suicides were rampant But what happened – bailouts – bank of England and East India company share swaps – by Walpole – which is another story The economic effects were widespread - What does this all have to do with today? Greed – bubbles, BTC, leverage, Corporate debt fuelling markets – Central banking policies – fuelling markets with leverage Political bribes and self-interest as well – Cover this in another episode Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/  

PodCasts – McAlvany Weekly Commentary
300th Anniversary of the South Sea Bubble! Is It Happening Again?

PodCasts – McAlvany Weekly Commentary

Play Episode Listen Later Jan 14, 2020


McAlvany Weekly Commentary Gaming stocks with corporate buyback of shares Gaming earnings per share with corporate buyback of shares PE at 34.5 – no worries?!   The McAlvany Weekly Commentary with David McAlvany and Kevin Orrick 300th Anniversary of the South Sea Bubble! Is It Happening Again? January 15, 2020 “This year we celebrate the 300-year anniversary of […] The post 300th Anniversary of the South Sea Bubble! Is It Happening Again? appeared first on McAlvany Weekly Commentary.

12 O'Clock High
The Panic of 1907 and Leadership of JP Morgan

12 O'Clock High

Play Episode Listen Later Oct 23, 2019 20:06


I recently listened to the Great Courses series of lectures entitled, Crashes and Crisis: Lessons form a History of Financial Disasters, hosted by Professor Connel Fullenkamp. Although the lecture series focused on economic disasters, I found many leadership lessons embedded in the lecture. In prior podcasts, host Richard Lummis and myself have considered the Dutch Tulip Bubble from the 1630s, the South Sea Bubble of 1720 and the Mississippi Bubble of 1720.   Today we conclude with the Panic of 1907 and see how one person’s integrity and leadership can actually work to stop a panic and save a national economy. While there were obviously many moving parts to stopping the Panic of 1907, with the personal integrity of JP Morgan and his knowledge of the domestic and international financial markets, it is very doubtful the Panic could have been stopped. If the Panic had been allowed to spread unchecked it likely could have brought down the entire US economy. This example shows that the right person, at the right place, at the right time can make all the difference. Learn more about your ad choices. Visit megaphone.fm/adchoices

12 O'Clock High
Leadership Lessons from the Mississippi Bubble of 1720

12 O'Clock High

Play Episode Listen Later Oct 16, 2019 16:48


I recently listened to the Great Courses series of lectures, entitled Crashes and Crisis: Lessons form a History of Financial Disasters, hosted by Professor Connel Fullenkamp. Although the lecture series focused on economic disasters, I found many leadership lessons embedded in the lecture. In prior podcasts, host Richard Lummis and myself have considered the Dutch Tulip Bubble from the 1630s and the South Sea Bubble of 1720. Today we consider the leadership lessons and failures which led to the Mississippi Bubble of 1720.  The Mississippi Bubble has nothing to do with the state of Mississippi or the great river but rather a French trading company which had been granted an exclusive charter by the King of France to develop France’s territory in the Mississippi territory in the New World. This lack of seeming awareness of enhanced risks, is a confounding aspect of this Bubble. If your own company policies, procedures, controls and personnel cannot determine how business is transacted in your organization, you run the risk of a legal violation or something similar to the fall of the Mississippi Company and John Law, who was forced to flee France disguised as a woman. Learn more about your ad choices. Visit megaphone.fm/adchoices

12 O'Clock High
Leadership Lessons from the South Sea Company Bubble

12 O'Clock High

Play Episode Listen Later Oct 8, 2019 1:30


In Part 2 of this special four-part podcast series, Richard Lummis and myself consider business leadership from a different angle, that of great economic disaster. This podcast series was inspired by the Great Courses series of lectures entitled, Crashes and Crisis: Lessons form a History of Financial Disasters, hosted by Professor Connel Fullenkamp. In this podcast series, we will consider the Dutch Tulip Bubble from the 1630s, the South Sea Bubble of 1720, the Mississippi Bubble of 1720 and the 1907 Panic. Today we continue with the South Sea Company Bubble of 1720. Fullenkamp said of the scandal, “The South Sea Company went from an obscure British trading organization in the early 18th century, with a share price of £128, to England’s most important company, with its shares trading at more than £1000—over the course of just 6 months. The company was at the center of one of history’s most interesting stock bubbles, one largely built on stock price manipulation and corruption. The South Sea bubble is a complex, fascinating story about the early days of the stock market in England and a cautionary tale about the dangers of mixing private enterprise and government finance.” What does the South Sea bubble teach us about the nature of bubbles and crashes? Fullenkamp identified three general points. First, “When governments get too involved in any asset market, there’s bound to be danger. People interpret the government presence as a sign that the asset can’t lose, so they’re willing to overpay for it .” Second, the South Sea bubble, similar to the  tulip bubble that preceded it, “was made possible by easy credit. The ability to buy stocks on credit, with absurdly low down payments, made people all too willing to buy the company’s shares.” The third and final point is that “Market manipulation can, and does, play a role in bubbles. And manipulation can be difficult to detect until after a bubble bursts.” Focusing on the fraud and market manipulations of the South Sea Bubble, James Narron and Richard Skeie, in their article “Crisis Chronicles: The South Sea Bubble of 1720—Repackaging Debt and the Current Reach for Yield”, found four factors. (1) Start with insider trading, here by picking up the British National Debt; (2) Pay bribes to those who have to approve the deal, here Members of Parliament; (3) Ban rivals, here the South Sea Company persuaded Parliament to pass the ‘Bubble Act’ which banned corporations in competition with the South Sea Company; and (4) Repackage worthless old debt for new investors, here think “Asset-backed securitization and collateralized debt obligations” in 1720 and you begin to see the problem. Learn more about your ad choices. Visit megaphone.fm/adchoices

12 O'Clock High
Leadership Lessons from the Dutch Tulip Bubble of 1636-1637

12 O'Clock High

Play Episode Listen Later Oct 1, 2019 15:56


In this special four-part podcast series, Richard Lummis and myself consider business leadership from a different angle, that of great economic disaster. This podcast series was inspired by the Great Courses series of lectures entitled, Crashes and Crisis: Lessons form a History of Financial Disasters, hosted by Professor Connel Fullenkamp. In this podcast series, we will consider the Dutch Tulip Bubble from the 1630s, the South Sea Bubble of 1720, the Mississippi Bubble of 1720 and the 1907 Panic. Today we begin with the Dutch Tulip Bubble. Tulips had been imported into what became the United Provinces of Holland in the late 1500s from Turkey. They became quite fashionable with the smart set at the time (i.e. royalty and the aristocracy) and by the early 1630s prices in Holland were already quite high. Then two things happened to create the bubble of 1634-1637. First the small group of tightly knit Dutch traders who bought and sold tulips were overrun by speculators. Second and perhaps more significantly, a type of formal futures market was created where contracts to buy bulbs at the end of the season were bought and sold, beginning in mid-1636. But this market was sanctioned or regulated as their trades were not made on formal Dutch exchanges. Different groups of traders began to meet together in taverns where they did not have to put much money down and the contracts were not legally enforceable. This significantly lessened any downside in not getting carried away in bidding. Traders were required only to pay a 2.5% “wine money” fee, up to a maximum of three guilders per trade. Neither party paid an initial margin, nor a mark-to-market margin, and all contracts were with the individual counterparties rather than with the Exchange. The entire business was accomplished on the margins of Dutch economic life, not in the Exchange itself. Learn more about your ad choices. Visit megaphone.fm/adchoices

Made You Think
59: Eternal Human Psychology: The Laws of Human Nature by Robert Greene

Made You Think

Play Episode Listen Later Apr 23, 2019 103:51


Let us call the collection of these forces that push and pull at us from deep within human nature. Human nature stems from the particular wiring of our brains, the configuration of our nervous system and the way we humans process emotions, all of which developed and emerged over the course of the 5 million years or so of our evolution as a species. In this episode of Made You Think, Nat and Neil talk about The Laws of Human Nature by Robert Greene. The author examines human behavior and suggests that it can be explained by different laws. Each law is presented and described in details: what every law means in your life, what you should do with it, how you should interpret it, and how you should use it. We cover a wide range of topics, including: How humans really behave and how one should adapt to it Historical and contemporary examples to better understand each law How to apply each law to your life Why corporations don’t give much importance to Twitter (and it’s because of Trump) The effect of context on our mood and behavior (yes, Nazis and Twitter examples) Why you may feel miserable even with 1 billion in your account And much more. Please enjoy, and be sure to grab a copy of The Laws of Human Nature by Robert Greene! If you enjoyed this episode, be sure to check out our episode on Mastery by Robert Greene, a fantastic book on sculpting your mind and your life in the pursuit of mastery, as well as Denial of Death by Ernest Becker, another book that delves into the idea that fearlessness is essential for individual success outside of a traditional path, and even within it.   Be sure to join our mailing list to find out about what books are coming up, giveaways we’re running, special events, and more. Links from the Episode Mentioned in the show Irrationality [8:50] Self-awareness [10:37] Narcissism  [12:49] Role-playing [17:16] South Sea Bubble [32:22] Black Swan Preparation [33:05] Herd Mentality [35:16] Instagram Influencer [35:39] The Godfather [38:45] Matrix [39:25] Primer [39:42] Self-sabotage [44:01] Mueller Report [45:45] Around the Horn [46:58] Pardon the Interruption [47:08] Crossfire [47:40] UC Berkeley [49:00] Lyft [49:22] New York Times [49:50] QueensBridge Venture Partners [50:41] Nazi [53:17] College as an incubator of Girardian terror by Dan Wang [59:40] American Psycho [1:01:44] Theranos [1:05:38] Enron [1:07:41] Apple [1:06:13] Nat's Article: Increasing the Difficulty [1:09:29] Social Justice Warrior [1:12:07] Neil's Article: Entertainment Isn't Dumb [1:16:40] Netflix [1:16:51] Cup & Leaf [1:17:45] Estee Lauder [1:21:23] Taco Bell [1:22:09] Slacktivism [1:31:38] Star Trek [1:38:19] Books mentioned The Laws of Human Nature by Robert Greene Mastery by Robert Greene (book episode) [01:33] Antifragile by Nassim Taleb (Nat’s notes) (book episode) [1:34] Letters from a Stoic by Seneca (Nat's notes) (book episode) [1:35] The 50th Law by Robert Greene [03:00] The 48 Laws of Power by Robert Greene (Nat’s notes) [03:13] Principles: Life and Work by Ray Dalio (Nat’s notes) (book episode) [6:58] Poor Charlie's Almanack by Charlie Munger [10:11] What Every Body is Saying by Joe Navarro [17:42] (Nat’s notes) (book episode) The Uninhabitable Earth by David Wallace-Wells [25:12] 12 Rules for Life by Jordan Peterson (Nat’s notes) (Neil’s notes) (book episode) [28:50] 12 Years A Slave by Solomon Northup [55:36] Skin in the Game by Nassim Taleb (Nat’s notes) (Neil’s notes) (book episode) [1:00:31] The Beginning of Infinity by David Deutsch (book episode) [1:29:26] Made in America by Sam Walton [1:32:30] The Denial of Death by Ernest Becker [1:34:45] (Nat’s notes) (book episode) The Elephant in the Brain by Kevin Simler and Robin Hanson [1:36:27] (Neil’s notes) People mentioned Robert Greene [01:15] Joe Rogan [07:55] Donald Trump [09:17] Charles T.  Munger [10:11] Bill Clinton [18:17] Barack Obama [20:07] George W. Bush [21:33] Sam Harris [24:41] Daniel Kahneman [24:42] David Wallace-Wells [25:12] Jordan Peterson [28:50] Isaac Newton [32:27] Fredo Corleone [38:45] Nas [50:20] Steve Jobs [1:06:13] Tim Ferriss [1:11:54] Seth Godin [1:22:31] Kanye West [1:25:37] Sam Walton [1:32:28] Ernest Becker [1:34:45] Ray Kurzweil [1:35:44] Show Topics 01:12 – Nat and Nate are major fans of Robert Greene. Takeaways from their top Robert Greene books, Mastery and The 50th Law. 5:12 – The laws of human nature is based on how humans act and behave and what one can infer about other people or learn about them based on their behavior. Each law goes in-depth on historical and contemporary examples. 8:50 – Law of Irrationality: You may think you are rational but you're not. The first step towards becoming rational is to understand our fundamental irrationality. We all fall into this trap of thinking that we're the rational ones and everyone else is irrational. Green believes that we all have irrational beliefs and the best way to become more rational is having that awareness of yourself that you are also not a fully rational creature. What stems out from irrationality is the conviction bias or superiority bias, where you think like you're better than everyone. The key to stop making irrational decisions is self awareness and reflection. Increase your reaction time: when some event or interaction requires your response, train yourself to step back. 12:50 – Law of Narcissism: Transform self love into empathy. The idea of healthy narcissism is everyone is a narcissist to some extent, but if you're healthy about it, you have a stronger, more resilient sense of self and can recover more quickly from wounds and insults. There is not much validation needed from others. Social media is the medium of overly narcissists. Also, there are two monologues happening sometimes on shows like podcasts where you just happen to be speaking at each other, but you're not really having a conversation. Everybody just wants to feel heard, that's why people are posting on social media.. 17:12 – Law of Role-playing: See through people's masks. Bill Clinton never lost sight of the fact that as president, he had to project confidence and power, but if he was speaking to a group of auto workers, he would adjust his accent and his words to fit the audience and he would do the same to a group of executives. Most of the time, trying too hard to adjust to your audience can be offensive. 21:38 – Law of Compulsive Behavior: Determine the strength of people's character. A lot of people do have some form of compulsion in how they act. The toxic types and drama magnets fall in this type of behavior. There are certain people, like in high school or in college, who always have drama no matter what's going on. The Laws of Human Nature can be read in two different ways – with the eye to learning more about other people or with an eye towards yourself. We go through Sam Harris’ interview of Daniel Kahneman and Joe Rogan's interview of David Wallace Wells, author of The Uninhabitable Earth. 26:43 – Law of Covetousness: Become an elusive object of desire. This law is very true for relationships, for instance, people who are using dating apps. The people you're connecting with on dating apps are always seemingly perfect, but then as you get to know them, you realize they're all human beings, they’re not perfect. Also, it states that if you don't give somebody too much information about yourself, then you have that air of mystery and they can project whatever they want to project onto you. In an era of so much advertising and marketing, it affects your decision-making, what is something that you actually want and what's something you need. We tackle the 12 Rules for Life by Jordan Peterson, where he emphasizes on how many of our desires are actually internally-driven versus driven by what we're seeing other people do. 31:52 – Law of Short-sightedness: Elevate your perspective. It's basically civically training ourselves to detach from the heat of the moment. For any group or team, you kind of want someone in charge of revealing all the ways something could fail. Expecting the unexpected, the black swan preparedness. The concept of herd mentality, where you doubt your own logic in money and selfies. Take those Instagram influencers. 38:07 – Law of Defensiveness: Soften people's resistance by confirming their self opinion. Everyone thinks that they're autonomous and acting of their free will. Also, most think that they're intelligent and that they're good and decent. Regardless of whether or not those things are true, it behooves you to confirm people's beliefs in that about themselves. Fredo Corleone is a perfect example. He is the family idiot who also does some sleazy things and gets the family in trouble, but despite all of that and all the evidence staring him in the face, he still thinks he's an intelligent and good human being. Primer on being a Master Persuader: five strategies for instilling those beliefs in the people you're talking to. 42:50 – Law of Self-sabotage: Change your circumstances by changing your attitude. This part lists out a lot of bad mental routines people get into. When you see one of these self-sabotaging mentalities come out constantly from people, it makes it very hard to be around them. This happens in Twitter feed, where if you were constantly surrounded by political or hostile tweets or news, even if they're not directed at you, it changes your mood entirely. The click bait headlines confirming existing biases. 51:22 – Law of Repression: Confront your dark side. Part of the job in studying human nature is to recognize and examine the dark side of one’s character. You can't deny that there are going to be parts of your character that are bad. Seeking those out and figuring out where they're coming from can improve yourself to deal with those parts of your behavior. There's like very little genetic determination for whether you're a good or bad person. There may be some inclinations, but a lot of whether or not you become like a well-socialized or antisocial person is going to be from your environment and your upbringing. We dive in the two circumstances that can bring that type of thing out and study Nazi’s and slavery. Slave owners were not necessarily cruel individuals, it’s just that they were accustomed to such as they grow up. 57:53 – Law of Envy: Beware the fragile ego. This delves into how you can pick up on other people, the little things they say and do that convey some sense of envy or insecurity around you. Women talk about this a lot with other women but men are not exempted from this. The closer you are to other people, the more you will envy them and resent them. We touch on College as an Incubator of Girardian Terror by Dan Wang – how there is no clear sign of any diversity on college campuses. Also, there are different things that motivate people, and all these motivations are mashed up in our brains leading us to have different types of behaviors. The concept of Alpha dog, where it's more on status than the actual money itself. 1:04:58 – Law of Grandiosity: Know your limits. You should tie any feelings of greatness to your actual work and achievements in your contributions to society and not to something special about you because that's where it can get dangerous. A case in point is Theranos. If the projects you attempt are below or at your skill level, you'll become easily bored and less focused. If they are too ambitious, you will feel crushed by your failure. 1:10:18 – Law of Gender Rigidity: Reconnect to the masculine or feminine within you. Some of the things that you find attractive in the opposite sex is something that you need to develop within yourself. This is a good tool for introspection and personal development. Greene used these masculine and feminine traits as descriptors. Opposite traits complement one another. 1:13:13 – Law of Aimlessness: To advance with a sense of purpose. You'll be most motivated and happiest if you have a higher sense of purpose or mission that drives you on what you are doing as opposed to just following the direction or the goals of your parents for you and your peers. Purpose is doing something where you actually want to wake up and instantly start moving. People judge themselves if that sense of purpose isn't something big and special. 1:18:08 – Law of Conformity: Resist the downward pull of the group. Being aware that you're not immune to the way being in a group will change how you think. Notice how being around people changes the way you're behaving and thinking. Making decisions based on what you want think, not just what the group wants or thinks. LinkedIn launch table. Different groups hold different heuristics. Corporate America doesn’t use Twitter, they think it’s a Trump thing. 1:22:35 – Law of Fickleness: Make them want to follow you. You want to turn yourself into someone that people want to follow. There are three core things under this law: listening skills, dedicating yourself by respecting people's individual needs and proving that you're working for the greater good, and then taking the leadership as a huge responsibility and making sure that you're considering the welfare of the group as early on in your career as possible. Not letting other people categorize you so they will pay more attention trying to find out more about you. You want to develop the highest possible standards for your work and training yourself to be super aware of how your manner in tone are affecting the people around you. Reputation is going to play a really big role in whether or not you can succeed in becoming some kind of leader. The idea of sending mixed signals and showing qualities that are ever so slightly contrary. If you send mixed signals, if you're not allowing people to instantly categorize you, they're going to pay more attention because they're trying to figure you out. 1:26:10 – Law of Aggression: See the hostility behind the friendly facade. Too friendly person who you don’t actually know is irritating. We all have aggressive tendencies. Aggressiveness spectrum. Aggressiveness can be seen in sports too, and they can bring out that aggressive part in people who might not have thought they were aggressive. Everyone has an aggressive side, whether you exhibit it overly or passively, and your task is to not deny that you are aggressive, but to learn how you can channel it into something productive. Almost nothing in the world can resist persistent human energy. The trick is to want something badly enough that nothing will stop you or double your energy. And lastly, “most people engage at some cathartic release of their angers, some giant protest, and then it goes away and they slip back into complacency or become bitter”. 1:31:02 – Law of General Myopia: Seize the historical moment. Society moves in cycles of like kind of four generations. The first generation is that of revolutionaries who make a radical break with the past to establish new rules and create chaos. The second generation craves some order, and they want to stabilize the world and establish some new conventions in dogma. Then the third generation has little connection to the founders of the revolution and they're less passionate about it, they just want to make life comfortable and they don't want things to be getting upset. And lastly, the fourth generation feels society has lost its vitality and they're not sure what should replace it. The goal is to understand as deeply as possible the spirit of your generation, of the times that you live in. Learn how you can take advantage of it and how that has affected how you perceive the world. The premise behind Sam Walton’s Walmart. “Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.” 1:34:35 – The Law of Death Denial: Meditate on your common mortality. Essentially, we don't like to think about the fact that we're going to die and that makes us act in ways that we might not. It causes us to buy into philosophies that will save us from that fact. We dive into the technological transcendence being the modern version of religion. No one is ever going to upload their brain into a computer. We must think of our mortality as a kind of continual deadline. We must stop fooling ourselves. We could die tomorrow and even if we live for another 80 years, it is but a drop in the ocean of the vastness of time and it passes always more quickly than we imagine. We have to awaken to this reality and make it a continual meditation. 1:41:31 – Find us on Twitter @TheRealNeilS and @nateliason and let us know what are yours thoughts about the book and the episode. Leave a review and share it with your friends if you like the show. Join the email list at Made You Think Podcast, that's the best way to stay up to date on future episodes and things that are going on with the show. Check our supporters at madeyouthink.com/support.  

Gresham College Lectures
Bubbles, Manias and Market Failures: The Unintended Consequences of Regulatory Responses

Gresham College Lectures

Play Episode Listen Later Feb 7, 2019 47:47


Although financial bubbles are in some sense banal and a feature of financial capitalism, the seeds of the next bubble are often sown by regulatory responses to previous ones. This has been the case since the South Sea Bubble and Mississippi Scheme, and has recurred at regular intervals in the intervening 300 years. This lecture explores how regulators try to prevent what will hopefully be the 'last' bubble and suggests that the most effective regulatory frameworks were developed during the normal operation of markets, not in response to crises.A lecture by Professor D'Maris Coffman, Professor of Economics and Finance of the Built Environment, UCL 7 February 2019The transcript and downloadable versions of the lecture are available from the Gresham College website: https://www.gresham.ac.uk/lectures-and-events/bubbles-market-failures-regulatory-responsesGresham College has been giving free public lectures since 1597. This tradition continues today with all of our five or so public lectures a week being made available for free download from our website. There are currently over 2,000 lectures free to access or download from the website.Website: http://www.gresham.ac.uk Twitter: http://twitter.com/GreshamCollege Facebook: https://www.facebook.com/greshamcollege Instagram: http://www.instagram.com/greshamcollege

Ryan and Noosh are Dead
S02 E03 - Britain

Ryan and Noosh are Dead

Play Episode Listen Later Aug 7, 2017 102:54


Cheerio, lads! Fancy a spot of tea or a smidge of opium before we begin this week's tales? Of the get-rich-quick scheme that nearly brought down an empire in The South Sea Bubble. Of the psychic who was tried as The Last Witch of Britain. And of the conspiracy theorist who is quite certain that neofascist lizard people are actually pedophiles in The Biggest Secret. Right then. Close your eyes, dear, and think of England. This week's topic: "Britain" #TrialByCake

TalkingTrading
Google Goggles And The Future of Trading

TalkingTrading

Play Episode Listen Later Jun 16, 2015 22:48


In this week’s episode we go forwards and backwards in time to look at the technological future of share trading and the history of The South Sea Bubble. With Google Goggles we are on the brink of being able to put a chart up and execute a trade with the blink of an eye. However just as the mania of the South Sea Bubble shows, people don’t change, human emotions never alter - therefore markets will always stay the same. And Jono Barratt tells us all about the bond market.   Market Wrap with jono Barratt The markets were volatile in the US – The Dow was down 140 points, gold and oil didn’t move and the US dollar was stable. Jono is searching for more a long-term structure in his portfolio with sustainable yields in the corporate bond market with rates of return at 7.5 to 10%.   The Future of Share Trading - Louise Bedford The future of trading technology is limitless. We are one step away from being able to blink and put up a chart in front of our eyes using Google Goggles. Our computing processing power doubles every two years and futurists believe there will be computers with greater than human intelligence by 2040. Charting packages will become simpler to use, back testing will become easier and there will be much more speed. However the more the markets change the more they stay the same. PEOPLE NEVER CHANGE so no matter what technology we have to help us, the markets will STAY THE SAME because people drive market action.   Did You Know – South Sea Bubble – Chris Tate There is NOTHING new in the markets as proved by the history surrounding the SOUTH SEA BUBBLE. Being a student of the history of the markets teaches you about the market itself, and the infamous South Sea Bubble shares many features with modern manias. When South Sea Company proposed to take over management of the British National Debt in 1720 it caused widespread mania in its price of shares. Its staggering collapse later that year caused a government inquiry. It has many similarities to the Tech Wreck of the millennium, and its history shows that there is nothing new under the sun when it comes to the markets.     Highlights of Talking Trading are also available on Louise Bedford’s Soundcloud. Additional Music by Kevin MacLeod http://www.incompetech.com

TalkingTrading
Boom! The Budget Bang – How does it affect your hip pocket?

TalkingTrading

Play Episode Listen Later Jun 3, 2014 25:30


This episode tells you how the federal budget is going to affect you, your family and your trading. Plus Chris Tate’s history of The South Sea Bubble shows that there really is nothing new under the trading sun. Jason Cunningham Accountant and TV star (The Living Room - TEN Network) Jason Cunningham gives us the ins and outs and the highs and lows of the Federal Budget. How it will affect Australians, what Jason agreed with, what he didn't, and his opinions on what is great in our country and what drives him bananas. Informative, fun and energetic - when was the last time someone told you to be good to be mother?   Did you know? - With Chris Tate Take a walk inside Chris Tate’s mind in his Did you know? segment with these facts come market lesson on The South Sea Bubble. While many modern traders believe they are seeing things for the first time, hear the similarities between the South Sea Bubble three centuries ago and the Tech Wreck 10 years ago. To be a great trader Chris emphasizes you must be a student of the markets and know that there really is nothing new under the trading sun.   Last week's episode featured Dr Harry Stanton, an expert on the important subject of trading psychology. Harry, in conjunction with Louise Bedford, recently released the Mind Power Profit Pack. If you want to learn more from Dr Harry and you're serious about making money as a trader, grab a copy of the Mind Power Profit Pack. There are only 13 2 Mind Power Profit Packs left at the introductory price, so click here right now to find out more.     To download the mp3 file to your computer, right-click on the ‘Download’ link and choose ‘Save target as…’ or ‘Save link as…’ and save the podcast to a suitable location on your local drive.   Additional Music by Kevin MacLeod http://www.incompetech.com

UCDscholarcast
Scholarcast 36: Draining the Irish Channel: Identity, Sustainability, and the Politics of Water

UCDscholarcast

Play Episode Listen Later Jan 7, 2014 50:31


In 1722 an anonymous author styling himself with the degree 'A. M. in Hydrostat' published a proposal in Dublin with the title, Thoughts of a Project for Draining the Irish Channel, a satire on both the South-Sea Bubble and Anglo-Irish politics, as well as a comment on the craze for projects and speculation, scientific advances in hydraulics and circulation, resource management and political arithmetic, and improvement and reclamation. The conceptual leap made in Draining the Irish Channel is that the sea can and should be improved: in other words, done away with. The sea could become not only the medium but the very ground of British colonialism; land could be created from unproductive water; the Irish Sea could literally become a new territory. In practical terms, then, the sea is recast as a geography of natural resources that could potentially be pumped, mined, and diverted using locks and drains, all for the health of the British nation.

UCD Scholarcast - Series 7: The Literatures and Cultures of the Irish Sea
Scholarcast 36: Draining the Irish Channel: Identity, Sustainability, and the Politics of Water

UCD Scholarcast - Series 7: The Literatures and Cultures of the Irish Sea

Play Episode Listen Later Jan 7, 2014 50:31


In 1722 an anonymous author styling himself with the degree 'A. M. in Hydrostat' published a proposal in Dublin with the title, Thoughts of a Project for Draining the Irish Channel, a satire on both the South-Sea Bubble and Anglo-Irish politics, as well as a comment on the craze for projects and speculation, scientific advances in hydraulics and circulation, resource management and political arithmetic, and improvement and reclamation. The conceptual leap made in Draining the Irish Channel is that the sea can and should be improved: in other words, done away with. The sea could become not only the medium but the very ground of British colonialism; land could be created from unproductive water; the Irish Sea could literally become a new territory. In practical terms, then, the sea is recast as a geography of natural resources that could potentially be pumped, mined, and diverted using locks and drains, all for the health of the British nation.

UnCommon Core
Bubbles, Crises, and the Global Economic Outlook

UnCommon Core

Play Episode Listen Later May 16, 2013 21:51


If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. Alumni Weekend 2012 UnCommon Core June 2, 2012 Bubbles, Crises, and the Global Economic Outlook Robert Aliber Professor Emeritus, International Economics and Finance, Booth School of Business The Panics of 1907 and 1837. The South Sea Bubble of 1720 and the Tulip Mania of 1637. These are a few examples of the many financial crises that have plagued the United States and the rest of the industrial world for over 300 years. What causes these booms and busts? How long and deep are the slumps that follow? What can be done to prevent them? And what can we learn from the history of financial crises to help us deal with the current economic crisis? In this talk, Robert Aliber addresses these questions and what the answers mean for policymakers and consumers in the United States in the months and years ahead. Robert Z. Aliber is professor emeritus, international economics and finance, at the Booth School of Business. He has written extensively about exchange rates and international financial and banking relationships and policy problems. While at Chicago, he developed the Program of International Studies in Business and the Center for Studies in International Finance. Among his many books are Money, Banking, and the Economy and an update of Charles Wiley's Manias, Panics and Crashes.

UnCommon Core
Bubbles, Crises, and the Global Economic Outlook (audio)

UnCommon Core

Play Episode Listen Later May 16, 2013 21:51


If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. Alumni Weekend 2012 UnCommon Core June 2, 2012 Bubbles, Crises, and the Global Economic Outlook Robert Aliber Professor Emeritus, International Economics and Finance, Booth School of Business The Panics of 1907 and 1837. The South Sea Bubble of 1720 and the Tulip Mania of 1637. These are a few examples of the many financial crises that have plagued the United States and the rest of the industrial world for over 300 years. What causes these booms and busts? How long and deep are the slumps that follow? What can be done to prevent them? And what can we learn from the history of financial crises to help us deal with the current economic crisis? In this talk, Robert Aliber addresses these questions and what the answers mean for policymakers and consumers in the United States in the months and years ahead. Robert Z. Aliber is professor emeritus, international economics and finance, at the Booth School of Business. He has written extensively about exchange rates and international financial and banking relationships and policy problems. While at Chicago, he developed the Program of International Studies in Business and the Center for Studies in International Finance. Among his many books are Money, Banking, and the Economy and an update of Charles Wiley's Manias, Panics and Crashes.

Gresham College Lectures
Panel Discussion: Never Again?

Gresham College Lectures

Play Episode Listen Later Jan 10, 2013 58:56


The litany of great financial scandals is long, and sadly unending. Dickens himself covers scandals we would recognise today in Little Dorrit and Nicholas Nickleby. Beyond Dickens, the South Sea Bubble (of course), railway shares, bonds in newly independent countries (Kingdom of Poyais), never again... IOS, Saavundra, Rolls Razor, Bank of Gibraltar, BCCI, never again... endowment mortgages, Barlow Clowes, Equitable Life, Maxwell, Lloyd's names, Lehman Brothers, payment protection insurance, never again... This symposium seeks, through the ghosts of scandals past, present and future, to see what lessons we can learn and to assess which is rosier, the future of finance or of financial scandals.

Gresham College Lectures
Ghost of Scandals Future: Great Expectations

Gresham College Lectures

Play Episode Listen Later Jan 10, 2013 30:37


The litany of great financial scandals is long, and sadly unending. Dickens himself covers scandals we would recognise today in Little Dorrit and Nicholas Nickleby. Beyond Dickens, the South Sea Bubble (of course), railway shares, bonds in newly independent countries (Kingdom of Poyais), never again... IOS, Saavundra, Rolls Razor, Bank of Gibraltar, BCCI, never again... endowment mortgages, Barlow Clowes, Equitable Life, Maxwell, Lloyd's names, Lehman Brothers, payment protection insurance, never again... This symposium seeks, through the ghosts of scandals past, present and future, to see what lessons we can learn and to assess which is rosier, the future of finance or of financial scandals.

Gresham College Lectures
Ghost of Scandals Present: Modern Pitfalls

Gresham College Lectures

Play Episode Listen Later Jan 10, 2013 29:12


The litany of great financial scandals is long, and sadly unending. Dickens himself covers scandals we would recognise today in Little Dorrit and Nicholas Nickleby. Beyond Dickens, the South Sea Bubble (of course), railway shares, bonds in newly independent countries (Kingdom of Poyais), never again... IOS, Saavundra, Rolls Razor, Bank of Gibraltar, BCCI, never again... endowment mortgages, Barlow Clowes, Equitable Life, Maxwell, Lloyd's names, Lehman Brothers, payment protection insurance, never again... This symposium seeks, through the ghosts of scandals past, present and future, to see what lessons we can learn and to assess which is rosier, the future of finance or of financial scandals.

Gresham College Lectures
Ghost of Scandals Past: A Short History of Financial Scandals

Gresham College Lectures

Play Episode Listen Later Jan 10, 2013 29:13


The litany of great financial scandals is long, and sadly unending. Dickens himself covers scandals we would recognise today in Little Dorrit and Nicholas Nickleby. Beyond Dickens, the South Sea Bubble (of course), railway shares, bonds in newly independent countries (Kingdom of Poyais), never again... IOS, Saavundra, Rolls Razor, Bank of Gibraltar, BCCI, never again... endowment mortgages, Barlow Clowes, Equitable Life, Maxwell, Lloyd's names, Lehman Brothers, payment protection insurance, never again... This symposium seeks, through the ghosts of scandals past, present and future, to see what lessons we can learn and to assess which is rosier, the future of finance or of financial scandals.

Gresham College Lectures
What the Dickens? The City's Great Financial Scandals, Past and Future

Gresham College Lectures

Play Episode Listen Later Jan 10, 2013 17:08


The litany of great financial scandals is long, and sadly unending. Dickens himself covers scandals we would recognise today in Little Dorrit and Nicholas Nickleby. Beyond Dickens, the South Sea Bubble (of course), railway shares, bonds in newly independent countries (Kingdom of Poyais), never again... IOS, Saavundra, Rolls Razor, Bank of Gibraltar, BCCI, never again... endowment mortgages, Barlow Clowes, Equitable Life, Maxwell, Lloyd's names, Lehman Brothers, payment protection insurance, never again... This symposium seeks, through the ghosts of scandals past, present and future, to see what lessons we can learn and to assess which is rosier, the future of finance or of financial scandals.

In Our Time
The South Sea Bubble

In Our Time

Play Episode Listen Later Dec 20, 2012 41:52


Melvyn Bragg and his guests discuss The South Sea Bubble, the speculation mania in early 18th-century England which ended in the financial ruin of many of its investors. The South Sea Company was founded in 1711 with a view to restructuring government debt and restoring public credit. The company would ostensibly trade with South America, hence its name; and indeed, it did trade in slaves for the Spanish market even after the Bubble burst in 1720. People from all walks of life bought shares in the South Sea Company, from servants to gentry, and it was said the entire country was gripped by South Sea speculation mania. When the shares crashed and the company collapsed there was a public outcry and many people faced financial ruin, although some investors sold before the crash and made substantial amounts of money. For example, the bookseller Thomas Guy made his fortune and founded a hospital in his name the following year. But how did such a financial crisis develop and were there any lessons learnt following this early example of a stock market boom and bust?With:Anne Murphy Senior Lecturer in History at the University of HertfordshireHelen Paul Lecturer in Economics and Economic History at the University of SouthamptonRoey Sweet Head of the School of History at the University of LeicesterProducer: Natalia Fernandez.

In Our Time: History
The South Sea Bubble

In Our Time: History

Play Episode Listen Later Dec 20, 2012 41:52


Melvyn Bragg and his guests discuss The South Sea Bubble, the speculation mania in early 18th-century England which ended in the financial ruin of many of its investors. The South Sea Company was founded in 1711 with a view to restructuring government debt and restoring public credit. The company would ostensibly trade with South America, hence its name; and indeed, it did trade in slaves for the Spanish market even after the Bubble burst in 1720. People from all walks of life bought shares in the South Sea Company, from servants to gentry, and it was said the entire country was gripped by South Sea speculation mania. When the shares crashed and the company collapsed there was a public outcry and many people faced financial ruin, although some investors sold before the crash and made substantial amounts of money. For example, the bookseller Thomas Guy made his fortune and founded a hospital in his name the following year. But how did such a financial crisis develop and were there any lessons learnt following this early example of a stock market boom and bust? With: Anne Murphy Senior Lecturer in History at the University of Hertfordshire Helen Paul Lecturer in Economics and Economic History at the University of Southampton Roey Sweet Head of the School of History at the University of Leicester Producer: Natalia Fernandez.

Emerging Alumni Scholars
The Meaning of Financial Value in 1720: Mathematics and Morality during the South Sea Bubble

Emerging Alumni Scholars

Play Episode Listen Later Apr 3, 2012 27:45


Binge Thinking History
20 Binge Thinking History: When is a Trading Company not a Trading Company?

Binge Thinking History

Play Episode Listen Later Feb 6, 2012 38:07


Back after almost a year with the first part of a two series on the South Sea BUbble. War maybe Hell but it’s also very, expensive and like every other country in 1700 England was deeply in debt.  Enter the South Sea Company and a story that mixes avarice, corruption, deceit, international intrigue and vast sums of other peoples money. Enjoy! Tony

Gresham College Lectures
'Gods of Commerce and Theives': Perceptions of Jews, Crime and Business in London

Gresham College Lectures

Play Episode Listen Later Apr 18, 2005 62:21


Some of the most nefarious anti-Semitic stereotypes are deeply embedded in English culture with Shakespeare's Shylock and Dickens' Fagin two of the best known. There exists, however, a wide spectrum of "Jewish types" associated with business in London, from the villainous to the nearly-saintly, which often resurface in public discourse. This lecture shall focus on the relationships between perception and 'reality' the interplay between stereotypes and expectations good, bad, and indifferent, as pertain to Jews 'doing business' in London, and Anglo-Jewry generally. Among the topics to be considered shall be: the legacy of the Norwich blood libel; the expulsion; crypto-Jews; pick-pockets and brokers; the South Sea Bubble; charges of 'industrial' conspiracy; boxers and the underworld; Disraeli and the Rothschilds; labour unrest; 'White Slavery'; 'Jewish gangs'; the Guinness-Distillers' affair; and John LeCarré's (masked) Jewish crooks.

Gresham College Lectures
Money Mania: The South Sea Bubble

Gresham College Lectures

Play Episode Listen Later Apr 26, 1988 44:51


At the beginning of 1720, almost the whole of England thought that investing money in the South Sea Company was an admirable idea; by the end of 1720, they were equally convinced that the company was made up of nothing but rogues and vagabonds. What was the South Sea Bubble and how can we...

Sleepy Time Tales Podcast – Creating a restful mindset through relaxing bedtime stories
Fallout of the South Sea Bubble - Memoirs of Extraordinary Popular Delusions

Sleepy Time Tales Podcast – Creating a restful mindset through relaxing bedtime stories

Play Episode Listen Later Jan 1, 1970 42:11


This week's boring non fiction is the ideal sleep aid as we learn about the many people who were fined for their part in the South Sea Bubble. Peers, lords and businessmen alike faced massive consequences for taking part of the scam.Story (02:47) Find Memoirs of Extraordinary Popular Delusions and the Madness of Crowds by Mackayhttps://www.gutenberg.org/ebooks/24518 Supporting Sleepy Time TalesIf 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 PatreonSleep Tight PatronsJessChris & MoyaChuckMystiRobertaCharityTraciEmilyMoyaBrianSandraCarlaJosephAYGreg  Please ShareIf 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 ShowWebsite: https://sleepytimetales.net/ Patreon: https://www.patreon.com/sleepytimetalesFacebook: https://www.facebook.com/sleepytimetalespodcast/YouTube: https://www.youtube.com/c/SleepyTimeTales Merch: https://www.teepublic.com/?ref_id=25247Project Gutenberg Terms of Usehttps://www.gutenberg.org/wiki/Gutenberg:Terms_of_Use