Columbia University Press
Investment: A History
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About this book
Author / Editor information
Jesse Downing is a graduate of Harvard College, where he studied economics and mathematics. He currently works at an investment-management firm in Boston.
Reviews
Barry Ritholtz, columnist for Bloomberg View and the Washington Post:
A tour de force look at investment from previously unseen perspectives.
Richard Sylla, New York University Stern School of Business:
For most of recorded history few people had wealth, and there were few options for investing it. Reamer and Downing show how that changed dramatically over the past two to three centuries. Today the vast middle classes of developed countries have joined the rich in having massive amounts of wealth to invest. Asset classes available to investors have proliferated, as have professional investment managers. This well-researched book is at once a welcome addition to the literature of financial history and a guide to navigating the complex world of modern investment.
Jay Light, dean emeritus, Harvard Business School:
Norton Reamer and Jesse Downing have delivered a truly impressive history of investments and the investment-management business, starting from its earliest origins in the ancient world to its most recent and innovative forms, for example, the hedge funds, private-equity pools, and other forms of alternative investments in the twenty-first century. It is not only a complete history but a well-organized and analytical one, built with continual reference to the important principles of business and investing.
Charley Ellis, author of What It Takes and Winning the Loser's Game:
This important, well-written, and engaging book covers 4,000 years of investing history with an emphasis on the last fifty years, where so much has been happening. Full of insights, interesting people, and enduring wisdom.
Janette Rutterford, Open University and University of York:
An easy-to-read primer on stock market investment, traced back from today to Greek and Roman times so that we may understand how we arrived at the present system of investment management and investment products.
Topics
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Frontmatter
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Contents
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Acknowledgments
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Introduction
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Chapter One. A Privilege of the Power Elite
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Chapter Two. The Democratization of Investment
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Chapter Three. Retirement and Its Funding
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Chapter Four. New Clients and New Investments
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Chapter Five. Fraud, Market Manipulation, and Insider Trading
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Chapter six. Progress in Managing Cyclical Crises
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Chapter Seven. The Emergence of Investment Theory
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Chapter Eight. More New Investment Forms
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Chapter Nine. Innovation Creates a New Elite
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Conclusion
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Notes
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Bibliography
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Index
415