The Newton Folly

ISBN-13: 9783565222049 / Angielski / Miękka / 104 str.

Arthur Stock

Opis

"The Newton Folly - When the smartest man alive lost his fortune" investigates the South Sea Bubble of 1720. The South Sea Company promised a monopoly on trade with South America (which was actually controlled by Spain and impossible to trade with). Despite having no revenue, the stock price soared on pure hype.Financial writer Arthur Stock details how Sir Isaac Newton, the genius who defined the laws of gravity, invested early and made a profit. But seeing his friends get rich as the stock kept climbing, he bought back in at the peak-and lost everything when the bubble burst. Newton famously said, "I can calculate the motion of heavenly bodies, but not the madness of people.""The Newton Folly" is a comforting read for anyone who has made a bad investment. It proves that high IQ is no protection against FOMO (Fear Of Missing Out) and the irrational contagion of a financial bubble.

The story of the South Sea Bubble, where even Isaac Newton went broke, proving that genius cannot conquer financial greed.