Financial History
Markets forget, and then they repeat.
These explainers walk the great manias and crises, from Tulip Mania and the South Sea Bubble to the 1929 crash, Black Monday in 1987, the 1997 Asian crisis, the 1998 blow-up of Long-Term Capital Management, the dot-com bubble, and the 2008 global financial crisis.
Each gets the mechanics: the leverage, the incentives, the psychology, and the lesson that survived.
Investing With Purpose treats history as a risk tool rather than a museum, because the conditions that preceded every bust tend to rhyme with the next one.
Study it to spot those conditions as they build, while there is still time to act.
Tulip mania was a short-lived speculative boom in rare Dutch tulip bulbs that peaked in early 1637 and collapsed in…
The South Sea Bubble was the 1720 speculative boom and collapse in shares of Britain's South Sea Company, a joint-stock…
The 1929 crash was the sudden collapse of US stock prices across four trading days in late October 1929 that marked the…
Black Monday refers to October 19, 1987, the day the Dow Jones Industrial Average fell 22.6% in a single session. It…
The 1997 Asian crisis began on July 2, 1997, when Thailand was forced to abandon its currency peg to the US dollar. The…
Long-Term Capital Management (LTCM) was a hedge fund founded in 1994 by former Salomon Brothers bond trader John…
The dot-com bubble was the late-1990s run-up in internet and technology stocks that peaked on March 10, 2000, when the…
The 2008 Global Financial Crisis (GFC) was a worldwide banking and credit panic that peaked in September and October…
The 2010 Flash Crash was an intraday collapse and recovery in US equity prices on May 6, 2010. The Dow Jones Industrial…
On March 10, 2023, Silicon Valley Bank (SVB), with roughly $209 billion in assets, was closed by California regulators…
The Panic of 1907 was a three-week run on New York trust companies that nearly collapsed the US financial system and…
The 1929 stock market crash was a multi-day collapse in October 1929 that ended the Roaring Twenties bull market and…
The Bretton Woods system was the postwar international monetary arrangement established at the UN Monetary and…
The Nixon shock was a package of economic measures announced by President Richard Nixon on Sunday evening, August 15,…
The savings and loan crisis was a decade-long collapse of US thrift institutions from the early 1980s through 1995.…
The Asian financial crisis was a regional currency and banking crisis that began with the forced devaluation of the…
The dot-com bubble was a speculative rally in US internet and technology stocks that peaked on March 10, 2000, when the…
The European sovereign debt crisis was a multi-year episode beginning in late 2009 in which several euro-area countries…
Tulip mania was a speculative episode in the Dutch Republic during which contract prices for tulip bulbs rose to…
The South Sea Bubble was the collapse of the South Sea Company's share price in the autumn of 1720, after a spectacular…
The Mississippi Bubble was the rise and collapse of the French Compagnie des Indes share price in 1719 and 1720,…
The 1931 collapse of the interwar gold standard began with the failure of Austria's Credit-Anstalt in May, spread…
Black Monday refers to Monday October 19, 1987, when the Dow Jones Industrial Average fell 508 points, or 22.6 percent,…
The Mexican peso crisis began with the December 20, 1994 devaluation of the peso and developed within weeks into a…
On August 17, 1998, the Russian government devalued the rouble, imposed a 90 day moratorium on private foreign debt…
Argentina's December 2001 default was the largest sovereign default on record at the time, covering roughly 81 billion…
On January 13, 1999, Brazil's central bank widened the real's crawling peg and, two days later, floated the currency…
Between October 7 and October 9, 2008, Iceland's three largest banks, Glitnir, Landsbanki, and Kaupthing, were placed…