The First Crash: Lessons from the South Sea Bubble

(Paperback)

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Description

For nearly three centuries the spectacular rise and fall of the South Sea Company has gripped the public imagination as the most graphic warning to investors of the dangers of unbridled speculation. Yet history repeats itself and the same elemental forces that drove up the price of South Sea shares to dizzying heights in 1720 have in recent years p

Reviews

"Richard Dale ... picks a scholarly but readable path through the events that led to the collapse of shares in the infamous South Sea Company in 1720. Only the purblind could fail to draw some important parallels between the events of that year and the bubbles of the more recent past, not least the dot.com mania of five years ago."--Jonathan Davis, The Independent

Author Bio

Richard Dale is Emeritus Professor of International Banking at Southampton University, United Kingdom. His books include Risk & Regulation in Global Securities Markets; International Banking Deregulation; and The Regulation of International Banking. He has been a Parliamentary advisor in the United Kingdom on financial regulatory policy and has testified before U.S. Congressional Committees on regulatory issues.