Panic: The Story of Modern Financial Insanity

Panic: The Story of Modern Financial Insanity By Michael Lewis, Panic The Story of Modern Financial Insanity The New York Times bestseller A masterful account of today s money culture showing how the underpricing of risk leads to catastrophe When it comes to markets the first deadly sin is greed In this Ne
  • Title: Panic: The Story of Modern Financial Insanity
  • Author: Michael Lewis
  • ISBN: 9780393337983
  • Page: 243
  • Format: Paperback
  • Panic: The Story of Modern Financial Insanity By Michael Lewis, The New York Times bestseller A masterful account of today s money culture, showing how the underpricing of risk leads to catastrophe When it comes to markets, the first deadly sin is greed In this New York Times bestseller, Michael Lewis is our jungle guide through five of the most violent and costly upheavals in recent financial history With his trademark humor and bThe New York Times bestseller A masterful account of today s money culture, showing how the underpricing of risk leads to catastrophe When it comes to markets, the first deadly sin is greed In this New York Times bestseller, Michael Lewis is our jungle guide through five of the most violent and costly upheavals in recent financial history With his trademark humor and brilliant anecdotes, Lewis paints the mood and market factors leading up to each event, weaves contemporary accounts to show what people thought was happening at the time, and, with the luxury of hindsight, analyzes what actually happened and what we should have learned from experience
    Panic: The Story of Modern Financial Insanity By Michael Lewis,
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      Published :2019-01-14T19:44:21+00:00

    About "Michael Lewis"

    1. Michael Lewis

      Michael Lewis, the best selling author of Liar s Poker, The Money Culture, The New New Thing, Moneyball, The Blind Side, Panic, Home Game, The Big Short, and Boomerang, among other works, lives in Berkeley, California, with his wife and three children.

    189 thoughts on “Panic: The Story of Modern Financial Insanity”

    1. No one believes the original assumptions any It s hard to believe that anyone yes, including me ever believed it John Seo, Fermat Capital, Quoted in Panic by Michael LewisI m not giving this book 3 stars because the writing is bad Much of the writing is very, very good I m just giving it three stars because it technically is only an anthology edited by Michael Lewis It is just a a collection of stories written by the author and many other financial writers divided into Four major parts panics 1 [...]


    2. The parts of this I liked the least were the parts where people, including the editor, decided it was time to do some satire Obviously, there is nothing funnier than a good bit of satire And over the years I ve really enjoyed some very funny pieces of satire I miss you Max Gillies The problem is that, for it to be funny, satire needs to be the powerless laughing at the powerful So, jokes about how the poor have hurt your stock portfolio by loosing their houses aren t so much satire as, well, obn [...]


    3. Interesting, well chosen collection of newspaper and magazine pieces, a couple by the editor but most of them not, from before during after some recent business related crises oct 1987 stock market crash, Asian markets crash late 90 s, tech bubble of 2000 or so, housing bubble, subprime mortgages Nice balance in that it s not absolutely current, which means there is a chance with hindsight to get a better perspective on what happened, how bad it got, how long it took to recover, etc but a lot of [...]


    4. Lewis believes that recent costly financial upheavals crash of 1987, Russian default of 1987,, the Asian currency crisis of 1999, and the current subprime were caused by a recurring problem of models underestimating the risk of rare events, thereby encouraging investors to take chances than they rationally would It is difficult book to understand because it is collection of essays Michael Lewis is the editor of the book, and did not write it I was very disappointed that the book did not answer [...]


    5. Un mont n de art culos period sticos, muy bien elegidos, sobre las ltimas crisis que hemos vivido el crash del 87, la crisis de Asia de los 90, el crash de las puntocom, el crash de las hipotecas subprime Hay algunos art culos que, con el paso de los a os, no hacen m s que ganar Lo lees y piensas que lo que dec a el periodista era demasiado obvio y, por supuesto, termin ocurriendo Otros art culos son de an lisis y nos ayudan a entender matices y detalles sobre lo que ocurri Una lectura muy inter [...]


    6. Another hindsight review, this time of a collection of material from 2008, largely contemporaneous articles curated by Michael Lewis, one of late capitalism s best known chroniclers.The material covers the stock market crash of 1987 blamed at the time on automated trading , the Asian currency crisis and the problems at Long Term Capital Management in 1998, the internet stocks boom and bust in 2000 and the sub prime mortgage market collapse in 2007.Lewis underlying thesis is what you would expect [...]


    7. I didn t have any particular interest in the stock markets or economics in general, but my standard interest in learning about stuff led me to this compilation of newspaper articles, essays and book extracts covering notable crashes of recent years I wondered at first whether I d be able to stick it out, as a lot of the prose was comprised of various stock valuations and fluctuations prices going up 30 points, decreasing by 25% then there s lots of talk of hedge funds, selling stocks short, goin [...]


    8. Once again Michael Lewis helps the average Jane and Joe understand the complex world of high finance Since the mid 80 s the US markets have been volatile than the best amusement parks In this book, Michael Lewis has gathered a collection of short stories from editorial financial gurus such as Paul Krugman and Lester Thurow, and many others to recreate the modern financial time lines that show the re occurring financial panics.He takes us through each financial boom and bust With each cycle the [...]


    9. This book felt like a flashback episode of a tv show You sit down on the couch and get ready to sink into a new episode of your favorite show and about 15 minutes into the show you realize all they are doing is flashbacks to episodes you ve already seen There is nothing wrong with this type of tv show or book if you know what to expect going in, but much of the complaints I ve seen about Panic are that most folks think it is a new Michael Lewis book rather than an re packaging flash back style c [...]


    10. I generally like Michael Lewis s books, but this one was not my favorite For one, it is not really a book but rather a collection of writings from before, during, and after each of the most recent US economic boom bust cycles Most of the articles are from other famous writers of note I did find some interesting ideas in here, including what I take to be the main thesis One of these ideas that deserves investigation than this book gave it was that sometimes boom bust phases might actually be goo [...]


    11. A collection of newspaper, magazine articles, book exceprts, etc that were originally published through out three main events in the recent history of finance 1 Plummeting values of foreign currencies namely in Soviet Union and Asia2 Warp speed growth of internet usage and dot com stock craze crash3 Housing bubble, mortgage backed derivatives, crashing home valuesI did not read the 3rd part Having already read The Big Short I thought commentary by Micael Lewis was time spent on overkill It was [...]


    12. AUDIO Michael Lewis, author of The Blind Side and Liar s Poker, tries to put some perspective on the on going financial meltdown by collecting in book and audio form articles written about the various past financial meltdowns and how they are similar and different from today s situation Some of the pieces were written by Lewis for Bloomberg News and other outlets while others were done by other writers for The New York Times, Fortune, Forbes, etc If anything, Panic puts the lie to the concoction [...]


    13. I was initially disappointed when I realized this book I had hastily picked up at the library was an anthology and not a book written by Michael Lewis I was hoping to read a Michael Lewis and see for myself why people swoon over his stuff at least at the movies Once I got over my initial disappointment, I decided I actually liked the book He describes four economics panics in our recent history Although given that I had not received my first payment for the first, second, or third panic, I didn [...]


    14. Not a book written by Michael Lewis but just edited Its a collection of articles pre and post the various stock market and financial market crashes It covers four major panics of the modern financial history, namely the Black Monday, The Asian Financial Crisis, The Dot Com Bubble and the most recent Sub Prime Mortgage Crisis Its a wonderful collection of very relevant articles and how the history looks in hindsight Once again the magician that Michael Lewis is his articles featured in the book s [...]


    15. It wasn t necessarily terrible, but it certainly wasn t what i expected Not as readable as other Michael Lewis productions, by far, and this was unequivocally attributed to the fact that in Panic, he has essentially just curated a bunch of news articles and essays from the 1987, 1998, 2000, and 2008 financial boom busts Now, I ve read enough financial banking wall street related books to know that the reason Panic wasn t readable for me is not because I don t understand the concepts, but rather [...]


    16. What s classic about this book is the misleading cover which barely acknowledges that Michael Lewis EDITED it and did not WRITE it But it s for a good cause and publishers are struggling too I suppose Just like this entire country This is a collection of articles that cover the biggest crashes in our recent history the glutinous wallow in easy money followed by the shocked and devastated portraits of victims I found the initial articles about the 1987 crash to be nearly impossible to understand [...]


    17. This book is a collection of about 50 magazine newspaper articles patched together A few of them were written by Lewis I found the few by Lewis to be extremely insightful,the others were a mixed bag At the end of the book Lewis poses the question that everybody should be asking Is wall street providing anything of value to America If wall st is just going to be a casino where traders can make billion or trillion dollar bets on derivatives, and the traders can grab mega million dollar bonuses if [...]


    18. I originally expected this book to be a great book for reading on the bus It s a compilation of over 50 short exceprts from various past publications detailing the financial meltdowns that have happened in the past It starts back during the 1987 crash and documents 3 other periods including the mst recent crash of 2008.This book lives up to expectations that it is a good one to pick up and read a little at a time, but this is also it s downfall I m a fan of Lewis previous works, but this book ju [...]


    19. I enjoyed this book most of the time while reading It offered a collection of different sources before, during, and after each financial crash I found some of the sources hard to follow and boring A lot of it was redundant which is bound to happen when different sources attempt to offer a coherent picture I would say there are parts of each crash that went undescribed Some of the sources were extremely dry with no real substance to them.


    20. Best quote, from Frank Nothaft, chief economist at Freddie Mac, from 2002 The single family housing market is not in a bubble, and I don t think it is susceptible to a bubbleWe are not going to see the price of single family homes fall It ain t going to happen Don t you just love experts


    21. An interesting collection of articles about 4 different financial crises, starting with the stock market crash of 1987 and ending with the recent housing market crash of 2007 At times I missed a common thread, but nevertheless, the editor, Michael Lewis, managed to create a gripping chronology of the accelerating boom and busts of our financial and economic system Can definitely recommend it.



    22. A pretty good supplement to Liar s Poker somewhat , How Genius Failed, The New New Thing, The Big Short, and Boomerang barely.



    23. The least of the outstanding Michael Lewis oevre.Compendium of familiar and dated articles on financial markets, etc.Should not have been published




    24. A look back at the financial panics since 87 Reminds me of what Jeremy Iron s character John Told said in Margin Call So you think we might have put a few people out of business today That it s all for naught You ve been doing that everyday for almost forty years Sam And if this is all for naught then so is everything out there points to the skyline of New York City It s just money it s made up Pieces of paper with pictures on it so we don t have to kill each other just to get something to eat I [...]



    25. A collection of essays and news reports on financial panics over the decades, several of which were written by Michael Lewis He s editor than author on this one The value in this book is going back to revisit real time stories on all the names behind the dotcom bubble and all the stupid logic behind their valuations one company actually paid website visitors for visiting because the cash the value of each eyeball in terms of stock price made the payments seem worthwhile You can pretty easily se [...]


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