Famous financial fiascos

This book by John Train provides a detailed look at various financial fiascos throughout history, including examples such as Tulipomania, the Kuwait Stock Exchange explosion, and the schemes of figures like Mr. Ponzi and Bernie Cornfeld.

It highlights common mistakes such as overgenerous investments, poor timing, and the 'bigger fool' economy, where assets are bought with the intention of selling to someone else at a higher price.

The book serves as a cautionary tale for investors, emphasizing the importance of learning from past financial disasters.