Devil Take the Hindmost: A History of Financial Speculation
My review (in Croatian) of this book can be found here. The book gives a perspective on history of speculation. Basically, it has been coming in new flavours, but always with the same undertaste. The same rituals repeat themselves in each mania under the motto that “this time it is different”. And all booms tend to end up in more or less spectacular busts. The case for similarities in investor behaviour is very convincing, but the case for danger from speculators is not. In conclusion author gives some critique of efficient market hypothesis and sides with advocates of more governmental regulation of speculation.