Market madness. A century of oil panics, crises, and crashes

Market madness. A century of oil panics, crises, and crashes / Blake C. Clayton. Oxford University Press, March 2015, 248 p. – ISBN 978-0-19-999005-4

http://ukcatalogue.oup.com/product/9780199990054.do

Presentation (© OUP) :

  • A groundbreaking study of financial crises and market panics in the context of the global oil market, drawn from over a century of data
  • The first major historical study to utilize Nobel Prize-winning economist Robert Shiller’s concept of new era economic thinking to understand the long history of one of the world’s most critical marketplaces
  • Combines statistical analyses with in-depth historical investigation to yield a truly iconic study of greed, fear, and turbulence that spans the dawn of the 20th century and the unfolding American energy boom
  • Authored by a Citigroup stock analyst, the study combines real-life market experience with deep academic expertise

In Market Madness, Dr. Blake Clayton, a Wall Street stock analyst and former Oxford researcher, draws on a centurys worth of statistical data to offer a revolutionary new look the history of oil and future of energy… read more

–> About the book :

• Note de lecture de Thomas Helbling, FMI, parue dans Finances & Développement, mars 20154, p. 56 http://www.imf.org/external/pubs/ft/fandd/2015/03/pdf/fd0315.pdf
• A Must Read New Book on Oil, Finance, and Economic History / Michael Levi, Energy, Security and Climate, 12/02/2015 http://blogs.cfr.org/levi/2015/02/12/a-must-read-new-book-on-oil-finance-and-economic-history/

In 1863, with the first American oil boom “at full tilt”, Andrew Carnegie had an epiphany: the world would soon run out of oil. He and a partner “decided to dig an enormous hole, capable of holding 100,000 barrels of oil”, where they would stockpile crude “until the worldwide oil shortage had struck”. When that happened, they’d be rich – to be precise, they’d be millionaires…


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