In 2006, hedge fund manager John Paulson realized something few others suspected - that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall.
'The Gods That Failed - How Blind Faith in Markets Has Cost Us Our Future', by Larry Elliott & Dan Atkinson.
'Fool's Gold - How Unrestrained Greed Corrupted A Dream, Shattered Global Markets & Unleashed A Catastrophe', by Gillian Tett, is released at the end of the month.
'When Washington Shut Down Wall Street' by William L. Silber unfolds like a mystery story. It traces US Treasury Secretary William Gibbs McAdoo's triumph over a monetary crisis at the outbreak of World War I that threatened the United States with financial disaster.
During these years of political upheaval and dramatic market swings, it's important to look back on historic periods to gain insights into the direction of stocks and economic stability for investment opportunities today. In Wealth, War & Wisdom, legendary Wall Street investor Barton Biggs reveals how the turning points of World War II intersected with market performance, and shows how these lessons can help the twenty-first century investor comprehend our own perilous times, as well as choose the best strategies for the modern market economy.
'The Puma Story' - the remarkable turnaround of an endangered species into one of the world's hottest sportslifestyle brands.
Robert Shiller, the renowned Yale economist and best-selling author of 'Irrational Exuberance', has a knack for predicting bubbles. In that book, he foretold the crash of the internet bubble in 2001 and then, in 'Irrational Exuberance, Second Edition', the sage of New Haven effectively predicted the current real estate crash, and the resulting subprime crisis.
In the wake of the Enron meltdown and other corporate scandals, the United States has increasingly relied on Securities and Exchange Commission oversight and the Sarbanes-Oxley Act, which set tougher rules for boards, management, and public accounting firms to protect the interests of shareholders. Such reliance is badly misplaced.
In 1997 it seemed that things in the City could only get better. The incoming Labour government came into power full of ideas and ambitions for Britain's financial sector.
'As I walked into the members entrance of the exchange for the first time on September 30 1982 I felt a buzz of excitement. I had realised my ambition of being a 'day-one trader'. Inside, the fluorescent lit exchange floor bustled with about three hundred traders in orange, red and blue jackets. A brief opening ceremony was overseen by Gordon Richardson, the governor of the Bank of England, before he cut a white ribbon hanging above a pulpit overlooking the floor. I felt at fever pitch as we counted down the start of trading. 'Ten, nine, eight, seven, six, five, four, three, two, one!' The bell rang and I watched a scrum of dealers scramble to trade Liffe’s first ever contracts in a heap of frenetic energy'.