Grant’s book: Minding Mr. Market

Minding Mr. Market“, is a collection of articles from “Grant Interest Rate Observer”. They’re from the 1980s and the earliy 1990s. Grant does not add much to the articles. Some annotations update the reader on how events turned out, but there is no organized attempt to look back at history and the predictions that were made. The essays are organized by topic. Apart from that, the reader has to do the analysis and summarizing on his own, with no help from the author.

Nevertheless, here’s something from the book…

Perhaps the oldest and purest blind pool on record was the “company for carrying out an undertaking of great advantage, but nobody to know what it is” during the South Sea Bubble of the early eighteenth century.

Grant goes on to quote Charles Mackay, from “Memoirs of Extraordinary Popular Delusions and the Madness of Crowds”:

The man of genius who essayed this bold and successful inroad upon public credulity, merely stated in his prospectus… … each subscriber, paying his deposit [of an initial 2 pounds for a 100 pound share], would be entitled to 100 pounds per annum. He… promised that in a month full particulars should be duly announced, and a call made for the remaining 98 pounds… he found that no less than one thousand shares had been subscribed for… He… set off… for the continent. He was never heard of again.

I would not recommend this book to a general audience. Since Grant did not add any commentary, the collection of articles would be of interest to a small niche of folks who already have a decent understanding the financial history of the period and who want to see what Grant said about it.


2 Responses to Grant’s book: Minding Mr. Market

  1. adeniyi felix says:

    everything you wrote concerning money is good are allright,,,, money is good in life of humanbeing ,when there is no money there is no life ,that is why money is so exenchial

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: