Anyone have any good history for me to read? I like to read about financial engineering, so market corners and other strategies are good topics. Recent examples include Porsche trying to takeover Volkswagen, old examples include Gould and Fisk trying to corner the gold market. Anyone know any others that maybe I'm missing?
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No one? Shame.
@CMoore0520" I don't know of any books but in terms of "cornering the market" some good examples include the 1970s Hunt brothers attempt to corner the silver market, (my personal favorite) Sumitomo's top copper trader attempting to corner the copper market in the 1990s, and Amaranth Advisors loosing $6.5 billion on natural gas futures.
Commodities seem to be the asset class that gets cornered the most as well as currency. Look into these categories and you're bound to find a good book or two. Barbarians at the Gate about KKR's takeover of RJR Nabisco is another good read.
More Money Than God was good
There's a book that has a collection of 10-12 stories about businesses or markets in general called Business Adventures by John Brooks. It includes a good story about the founder of Piggly Wiggly stores trying to corner the market on his company's stock in the 1920's. It's a pretty entertaining read.
The book also has a good story about the Edsel model flop by Ford and an interesting story about Xerox. Most of the other stories were just okay. The author leaned left politically and that was very apparent at different points in other stories. Just an FYI in case that matters to you.
Thanks! I'll look into those whether it's through the book or online.
Standard oil was kind of a big deal at one point.
Yeah, and I am interested in that time frame for the most part. Something about the robber barons is fascinating. I've read about some barons filling cows with water prior to auctions, as value was based on weight. Any more stuff like that? Interested in clever schemes (preferably legal at the time), corners, etc.
Check out the book Dark Genius of Wall Street. It's a fantastic look at Jay Gould and the time of the robber barons. It is a much more favorable look at him than most in history have given him.
I actually read that last year and thought it was good, but I feel like the author didn't really explain how his life was misunderstood (as implied from the title). He worked hard for Union Pacific, but it seemed he also did a lot of shitty things. I need to reread it because I forgot a lot of takeaways from the book
Reminscensces of a stock operator by jesse livermore, people talk about how he cornered the market in 1929 when it crashed, good book, one of my favorite trading books I have read
Thanks! I'll look into it!
Solid article here: http://archives.chicagotribune.com/1888/09/30/page/2/article/corners-of…
I'd like to read those recession history since 1600
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