Book

Manias, Panics, and Crashes

Charles P. Kindleberger

The anatomy of a bubble, repeated across four hundred years. Once you have the sequence from displacement through to revulsion, you start seeing it in live markets.

• Crises and market history
• Markets
• Macro and rates

1 idea from this book

• FrameworkCrises and market history

  Every bubble runs displacement, boom, euphoria, distress, revulsion

  Ask where a market is in the sequence rather than whether it is a bubble; the stages are more recognisable than the verdict.

  Any market history question, any debate about whether a current theme is overdone, and macro interviews.