A Short History of Financial Euphoria by John Kenneth Galbraith

Introduction to an Investing Classic:

John Kenneth Galbraith is an intellectual celebrity. As an economist, Harvard faculty member, and public servant in government, Galbraith’s legacy is held in the prolific number of books he published. For those unfamiliar with him, we suggest a review of the expansive Wikipedia page dedicated to him.

Those who own the book will find our brief notes wildly inferior to the actual book. Certainly, we agree. Fortunately, our goal is modest. If our message helps on investor avoid speculative buying, we will consider this a success.

For any new or current subscribers, we would happily provide a complimentary copy of Galbraith’s book.

Stock Market Bubbles and their Consequences:

This book is barely over 100 pages long. Yet, despite its brevity, the work articulates the recurring market crashes that have beset financial markets from the 1400s through the 1980s with vivid prose. For those in equity markets today, we believe few books impart so much critical knowledge in such a brief package.

The bottom line is that investment decisions made by misplac