Attempting to reveal the real causes of the 1929 stock market crash, Bierman refutes the popular belief that wild speculation had excessively driven up stock market prices and resulted in the crash. Although he acknowledges some prices of stocks such as utilities and banks were overprices, reasonable explanations exist for the level and increase of all other securities stock prices. Indeed, if stocks were overpriced in 1929, then they more even more overpriced in the current era of staggering growth in stock prices and investment in securities. The causes of the 1929 crash, Bierman argues, lie in an unfavorable decision by the Massachusetts Department of Public Utilities coupled with the popular practice known as debt leverage in the 1920s corporate and investment arena. This book extends Bierman's argument in an earlier book, The Great Myths of 1929 and the Lessons to Be Learned (Greenwood, 1991), in which he discussed and refuted seven myths about 1929 but could not explain the crash. He now believes he has a reasonable explanation. He also examines the actions of Charles E. Mitchell and Sam Insull and their subsequent unjust criminal prosecution after the crash of the 1929 stock market.
Since the US stock market crashed on October 19, 1987, many studies have been conducted to learn from this experience in the hopes of avoiding a similarly adverse future fall. The book, originally published as a special issue of the Journal of Financial Services Research, considers some of the important policy adjustments that have been implemented in the wake of the 1987 crash. Taken separately and together, these five papers offer a synthesis and summary of the most important policy innovations that have evolved since the largest single-day decline in stock market history.
Most of us would accept that recent large economic fluctuations have been caused by crashes of speculative bubbles in asset markets. For example, few would disagree that the most important cause of the global financial crisis in 2008 was the collapse of an unprecedented bubble in U.S. housing markets. However, the reasons why bubbles frequently occur in various financial markets, and why bubbles collapse are not always well understood. The book provides a new theoretical explanation of bubbles and crashes to help answer questions relating to how asset bubbles come about, why they persist, and the causes of the subsequent crashes.
In this innovative volume, Taisei Kaizoji proposes a stock market model in which noise traders and fundamentalists who follow the traditional asset pricing model coexist. A distinctive feature of this study is that the so called noise-trader's behavior is modeled in a framework of Keynes' beauty contest metaphor. The author elucidate a mechanism in which (i) noise-traders' herd behavior gives cause to a bubble, and (ii) their trading momentum prolongs the bubble, (iii) the bubble inevitably results in a crash, and (iv) the cycles of bubble and crash are repeated. The results give a possible theoretical solution to the equity premium puzzle. This model will deepen our understanding of the mechanism of bubbles and subsequent crashes and help to bring about an innovation in financial economics which allow us to consider the laws of capitalist economies in a new light.
Create your perfect channel! YouTube is one of the most popular sites on the Internet, but not all people are aware of the fact that it is also a great tool for making money and promoting your product. At the moment, over 1 billion people use it. YouTube provides access of your business to a greater number of remote customers. And this can give you an advantage over other businesses that do not include it in their marketing campaigns. But YouTube isn't just for businesses, individuals can use it as well. All you need is an idea what topics you will cover and the courage to do it. With this book, you are going to learn how to create and optimize your YouTube videos. You will gain skills how to grow your audience and engage it. You will also learn how to use YouTube for Marketing and the details involved in doing this the right way. Here Is A Preview Of What You'll Learn: How to use YouTube for marketing How to create a successful YouTube channel How to create high-quality video How to optimize your YouTube videos How to grow your audience and engage it How to avoid mistakes
What happens when a woman from California moves to Texas and ends up with a born-and-bred in Texas husband? Get ready for a "Culture Crash!" that is as surprising as it is hilarious. Read about her one summer at a kid's dude ranch in West Texas, when putting coke in your canteen instead of water for a horseback ride means a long ride home with sticky stuff dripping down your leg. And how the youngest riders seem to have the most ancient horses, which can and do expire mid-session.Where barbequing is a sacred smoky bond between man and meat that requires rubs, spices, music and beer to do it properly. Explore "Southern Comfort Food Updated", from Church Socials to Buffets and their little-known Fried Chicken Charge. Try to understand a Texas husband's attachment to "Comfort Stuff", and his radar-like ability to hone in on anything "Free!" - or a discarded couch by a dumpster that is always "worth a look." Learn about the history behind the Parlors in Texas Homes, where you might be cooling your heels awhile if you have your pregnant daughter in tow to see the Almost-Man Of The House. And if you think the Civil War is over, wait until you read about Condiment Wars!This collection of humor essays ends with a reprint of "Ready For The Hurricane Season?" first printed on-line by Deep South Magazine. And a Cowboy Psalm dedicated to the 15 First Responders who lost their lives in April 2013, when a fertilizer plant exploded in West, Texas. Get ready to laugh, get ready to learn, get ready to be surprised, get ready to cry. "Culture Crash!" will delight your whole family, and you'll want to keep this book handy to read over and over again.
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