Wall Street: A History

Rating:
Summary: Readable
Review: Charles Geisst has provided, in "Wall Street: A History", an informative look at not only the history of the stock exchange but also the evolution of American financial institutions from the free wheeling early years to the regulated giants we now know. Geisst does not only focus on stock exchanges but also how those institutions relate to the rest of the financial industry and to the economy as a whole.

Some of the more interesting bits of information that Geisst provides are the rather modest beginnings of the New York Stock Exchange (outside and under a tree) and the creation of the Securities and Exchange Commission and its first chairman, Joseph P. Kennedy. Kennedy was the almost perfect choice for the job because he knew the ins and outs of illegal dealing on Wall Street and was better equipped than most people to detect and punish stock schemers.

Geisst's book is certainly more readable than most financial histories. It may be light on financial theory, but "Wall Street" makes up for it with a well-organized, inciteful look at the give and pull that created our modern day capital markets.

Rating:
Summary: Gripping History
Review: Charles Geisst tells a gripping history of Wall Street, from a tiny congregation of traders along the sidecurb to the most influential financial market in the world. Over a span of 200 years, Geisst examines the factors contributing to the rise of Wall Street and the Street's role in helping America become the most powerful economy. On the light side, he narrates the colourful lives and exploits of the Robber Barons who have come to symbolise Wall Street's predatory and free-wheeling past. This is definitely an engaging book but without being pedantic for history freaks.

Rating:
Summary: Would you believe it all started under a tree?
Review: Traders met under a tree in the beginning to trade securities, that's about it. Later, the securities were being traded on the "curb", then indoors, and eventually it became the global market that we know today. You will learn about the progress of the market, the booms, the busts, the market "breaks" and the recessions and depressions that followed.

This book is a complete history of investing in the US: Interested in the history of trading? Interested in the history of corporate debt (short-term securities, bonds, etc.)? Interested in how the US was funded to become the World power it is today? Interested in issues like program trading and market volatility? This book discusses all of these and many more, including the people, thinking, and developments that have made the market what it is today.