#4392
Mentioned in 6 episodes

A short history of financial euphoria

Book • 1990
In this book, John Kenneth Galbraith traces the history of significant speculative episodes in the economy, from the tulip craze of the seventeenth century to the recent plague of junk bonds.

He exposes how normally sane people display reckless behavior in pursuit of profit, attributing these behaviors to a 'notoriously short' financial memory that leads to market collapses.

Galbraith emphasizes that recognizing these patterns can help guard against future recessions and improve financial stability.

The book underscores the cyclical nature of financial euphoria, driven by mass psychology and leverage, and warns against the illusion that wealth is a measure of intelligence.

Mentioned by

Mentioned in 6 episodes

Mentioned by
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Howard Marks
as a book he read in the mid-90s.
195 snips
Behind The Memo: The Impact of Debt with Howard Marks and Morgan Housel
Recommended by
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Kyle Grieve
for understanding market booms and speculative events.
37 snips
TIP673: A Short History Of Financial Euphoria w/ Kyle Grieve
Mentioned by
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Brian McCullough
to illustrate generational shifts in investment philosophy.
17 snips
126. (Ch. 8) How the Dotcom Bubble Happened
Mentioned by
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Howard Marks
, referencing his book on financial euphoria.
Think smarter, not harder with Howard Marks
Mentioned by
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Brian McCullough
to illustrate generational turnover in investing philosophy.
(IHP) How The Dotcom Bubble Happened
Recommended by
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Howard Marks
as a book that gave him a great feeling for the psychological fluctuations that dominate the market.
169: Unlocking Investment Wisdom - With Howard Marks, Co-Founder of Oaktree Capital Management
Mentioned by
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Joe Weisenthal
when discussing the "zero stroke" mental disorder during the hyperinflation.
Zach Carter on the Real Story of Weimar Hyperinflation
Recommended by
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Howard Marks
as a short book on financial euphoria.
Ep. 36: Howard Marks
Mentioned by
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Bill Smead
as a refresher on behaviors contributing to inflating useless items.
The Smead Book List - Spring 2025

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