Boomerang: Travels in the New Third World
South Sea to sell to the public and make a nice profit. If the shares were purchased at £200 they were now worth more if the price continued to rise and were sold at some point. Seeing the price rise would lure more creditors to convert their shares and more people to buy in. Everyone would win only if the price kept rising. But how could the price
... See moreRobert Greene • The Laws of Human Nature
Throughout this time, Ivar appeared entirely without concern. Although he sensed the increasing panic, along with everyone else, he didn’t want anyone in New York to see him falter, particularly given the market’s decline. He knew markets reflected emotions and perception. In finance, there was no such thing as reality. There was only, as Pierpont
... See moreFrank Partnoy • The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Bond transactions are not usually the stuff of great passion. But the megacanje, or megaswap, as this one would come to be known, ranks among the most infamous deals that Wall Street has ever peddled to a government—and with good reason: For CSFB and a half dozen other Wall Street firms, the megaswap would be a bonanza, earning them more than $90 m
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