Wheels of Fortune
The History of Speculation from Scandal to Respectability
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Beschreibung
From the very beginning, financial markets have been called everything imaginable-from gambling dens to vital centers of commerce. But the futures markets have been especially criticized for the neverending scandals and constant turmoil that have surrounded them.
Wheels of Fortune is an engaging and original story that traces the rich, colorful, and often scandalous history of the U.S. futures market in its quest for respectability and profit. Set against a backdrop that begins prior to the Civil War and continues through the twentieth century, renowned business historian and bestselling author Charles Geisst takes you on an incredible journey that brings the personalities and strategies behind the futures markets and speculation in general to life.
You will discover how legendary traders such as Benjamin Hutchinson cornered the wheat market in the nineteenth century and learn how other bold traders as well as lax regulations paved the way for twentieth-century debacles and events that would continue to tarnish the reputation of the CBOT, the CME, and other related institutions and markets.
The history of the futures markets, derivatives, and speculation is full of misunderstandings and false assumptions. Wheels of Fortune seeks to clarify these misconceptions by chronicling the events and individuals that brought scandal and skepticism into the markets, and exploring the laws and governing bodies that were established to rein them in-but lacked the power to do so.
An intriguing history of the futures market and speculation
From Jay Gould's attempt to corner the gold market in the 1860s to the Hunt brothers' scandalous efforts to control the silver market in the 1980s, Wheels of Fortune traces the rich, colorful history of the futures market on its quest for respectability and profit. This comprehensive account shows readers why the markets have been grabbing headlines for over 100 years as both respectable economic institutions and hotbeds of gambling activity and scandal. Charles Geisst brings the personalities and strategies behind the futures market and speculation in general to life, against a backdrop of American life that begins prior to the Civil War.
Autor*in
Charles R. Geisst
Themen in »Wheels of Fortune«
Börse Finance & Investments Finanz- u. Anlagewesen Wirtschaftsgeschichte