The Day the Markets Roared: How a 1982 Forecast Sparked a Global Bull Market
(Hardback)
Publishing Details
The Day the Markets Roared: How a 1982 Forecast Sparked a Global Bull Market
By (Author) Henry Kaufman
By (author) David B. Sicilia
BenBella Books
Matt Holt Books
4th June 2021
United States
Classifications
General
Non Fiction
Economics of specific sectors
Economic geography
History of the Americas
Finance and the finance industry
Investment and securities
332.6427309048
Physical Properties
Hardback
216
Width 159mm, Height 236mm
Description
Legendary economist Dr. Henry Kaufman shares a classic Wall Street story that has never been fully told: a firsthand account of the day in August 1982 that would define US economics for decades
Dr. Henry Kaufman is the most famous economist Wall Street has ever seen, renowned well beyond the financial industry. He was the subject of New Yorker cartoons, had cameos in drama productions and two seminal literary works of the 1980s, was subject to death threats, and enjoyed the nickname "Dr. Doom." His pinnacle of influence arrived on August 17, 1982.
That single day turned out to be the beginning of the world that we now live in. At the time, after painful years of high interest rates and the inflation of the late 1960s and 1970s, consumers were paying 17 percent and higher to borrow money. But by the end of one summer day almost 40 years ago, the stock market had undergone its second-biggest rally since WWII, while bond prices soared and interest rates plunged. Dr. Kaufman himself had written a memo that sparked this tremendous boom-and it set the global markets on fire, marking the start of almost four decades of US economic growth.
The Day the Markets Roared answers the questions:
The Day the Markets Roared is a firsthand, minute-by-minute account of one remarkable day in financial and economic history, with a rich cast of characters, from Salomon's John Gutfreund to interest rate guru Sydney Homer, to Dr. Kaufman's longtime friend, Fed Chairman Paul Volcker. Dr. Kaufman reflects on the lessons of the historic August 1982 episode, harkening back to a more optimistic moment in American history, and offering inspiration for better times ahead.
Author Bio
Dr. Henry Kaufman is the most famous economist Wall Street has ever seen. As senior partner, chief economist, and director of research at Salomon Brothers, then the most profitable investment bank in the world, his fame extended well beyond the financial industry and into popular culture. He was the subject of New Yorker cartoons, had cameos in Bonfire of the Vanities and Liar's Poker, two seminal literary works of the 1980s, was subject to death threats and featured in drama productions, and enjoyed the nickname "Dr. Doom."
David B. Sicilia is associate professor in the department of history and Henry Kaufman Chair of Financial History at the Robert H. Smith School of Business. His research and teaching center on business, economic, and technology history, with a special emphasis on the history of capitalism and finance. He divides his teaching between the history department and the Smith School.
