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The History of Bankruptcy
The biggest fraud we've seen so far in this downturn is obviously FTX. And a lot of people were very surprised to see them by on bankruptcy, essentially overnight. Clay Fink: I wanted to learn a little bit about the history of bankruptcy. The Italian phrase at that time was banka rupta that meant broken bench.
Trey brings back financial historian, Jamie Catherwood. Jamie is a Client Portfolio Specialist at O'Shaughnessy Asset Management and the author of the popular blog, Investor Amnesia.
Trey and Jamie discuss the historical viewpoint on a post-bubble world, the impact of 1800s markets on our current market outlook, and more.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:45 - How markets from the 1800’s can inform how we view our market today.
13:27 - How the frauds of today like FTX draw similarities to frauds of the past.
31:00 - How the crypto market resembles the early days of the stock market.
40:32 - Why market regulations developed in the US.
54:10 - Where the term “bankruptcy” comes from.
55: 30 - Other fascinating facts and stories from the past.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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