Don't fall for it : a short history of financial scams

9781119605164

vii, 179 pages ; 24 cm

Includes bibliographical references and index

Chapter 1. No one sells miracles
Goats as Viagra?
Radio
The placebo effect
Correlation does not imply causation
Same as it ever was. Chapter 2. How to sell anything
The count
Selling the Eiffel Tower
Everyone is in sales. Chapter 3. Fast Money
The promise of huge returns with minimal effort
When trust goes too far
Do your homework. Chapter 4. It's the end of the world as we know it
Cognitive dissonance
The man who walked on water
No one knows what's going to happen
Why pessimism sells better than optimism
The value of 'I don't know'. Chapter 5. Sleight of hand
Bad Brad
A magician reveals his secrets. Chapter 6. When success doesn't translate
Defeated by decency
Don't try to get rich twice. Chapter 7. When fraud flourishes
When there's an 'Expert' with a good story
When greed is abundant
When capital becomes blind
When the banking industry gets involved
When individuals begin taking their cues from the crowd
When markets are rocking
When the opportunity presents itself
When human beings are involved
When innovation runs rampant. Chapter 8. The siren song of new technologies
The railway Napoleon
The media's role in a bubble
The other side
The silver lining of a market crash. Chapter 9. The seductive power of FOMO
How to create a monopoly
The roaring 20s
When the tide goes out
Not a Ponzi but close enough
The seductive power of FOMO. Chapter 10. Type I charlatan
John Law and the Mississippi Company
Speculation Is a hell of a drug
Pop goes the bubble
Type I and Type II charlatans. Chapter 11. Type II charlatan
The South Sea Company
Type II charlatan John Blunt
The bubble act
The echo bubble and Dunbar's number. Chapter 12. Fooled by intelligence
Newton's mania
The problem with smartest people in the room
Why smart people make dumb decisions
Fooling yourself with complexity. Chapter 13. How gullible are you?
Ponzi versus Bernie
The sacred relationship. Chapter 14. The easiest person to fool
Getting rich versus staying rich
Shot out of a cannon
The biggest fraud of all. Conclusion: six signs of financial fraud
1. The money manager has custody of your assets
2. There is an aura of exclusivity in the pitch
3. When the strategy is too complicated to understand
4. When the story Is too good to be true
5. When the returns are ridiculously good
6. When they tell you exactly what you want to hear

2019032942

2904554