Smart, accessible, engaging… This narrative history of stock market crashes is likely to send you looking for a mattress to hide your money under even as you enjoy the read. Author Scott Nations’ stories of The Panic of 1907, Black Tuesday, Black Monday, The Great Recession, and The Flash Crash make for vivid reading and the author does a strong job of showing how the elements of each crash are related—and destined to keep coming.
Nations is the president of a financial firm, a regular contributor on CNBC, and personally witnessed three of the five crashes that appear in the book.
“[A] fascinating look at five major stock market crashes…. Nations observes that stock market crises mean more than just tanking investment accounts. They also stop people from investing, impacting job availability and the economy as a whole. While these failures don’t have a single cause that is easy to recognize beforehand, he asserts that all five studied here share important indicators. For one, they all had an external catalyst. He connects the Panic of 1907 to the 1906 San Francisco earthquake, which spurred insurance claims predominantly held by British insurers…. Nations’s focus on underlying causes is uniquely helpful given the complexities of the ever-changing and intricately connected global economy.”
— Publishers Weekly
’Timely. … An eye-opening examination of the many ways money can be made—and disappear.’”
— Kirkus Reviews
A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation (9780062467270) by Scott Nations. $28.99 hardcover. 6/13/17 on sale.